This morning, House Republican Leader John Boehner called for the resignation of Treasury Secretary Timothy Geithner and White House economic advisor Larry Summers. Considering our nation’s fiscal policies are in the gutter, it’s about time for these two ringleaders to be replaced.
According to an August 24 Fox News article, Boehner said:
“We’ve tried 19 months of government-as-community organizer. It hasn’t worked. Our fresh start needs to begin now…We have been told that the president’s economic team is ‘exhausted’ … The worse things get, the more they circle the wagons and defend the indefensible.”
Leader Boehner called on President Obama to stop the upcoming tax hikes scheduled to take place on January 1, 2011 when Bush-era tax breaks will expire. Obama has vowed to continue tax cuts for individuals earning less than $200,000 and couples making less than $250,000. But Boehner pointed out that raising taxes on anyone in this kind of economy would have devastating effects on small businesses and would slow the nation’s economic recovery. According to The Hill:
“One of President Obama’s predecessors once said that ‘an economy constrained by high tax rates will never produce enough revenue to balance the budget, just as it will never create enough jobs,’” Boehner said. “That president was John F. Kennedy. So let me be clear: Raising taxes on families and small businesses during a recession is a recipe for disaster — both for our economy and for the deficit. Period. End of story.”
Congress is expected to being debating tax increases this fall, but with November just around the corner it seems unlikely that any action will be taken before the midterm elections. This means that lame duck lawmakers might be deciding the fate of our nation’s tax rates.
I applaud Leader Boehner for urging the White House to clean up its act and halt the upcoming tax increases. Let’s just hope someone over there is listening…
Filed under: Pork