In an interview broadcast of NBC News, President Obama said: “The last thing you want to do is raise taxes in the middle of a recession, because that would just suck up, take more demand out of the economy and put businesses in a further hole.” Unfortunately, he made that intelligent comment on August 5, 2009.
Watch the video:
Obama made that comment during a visit to Elkhart, Indiana, while he was touting his stimulus plan, and was responding to a question from Elkhart resident Scott Ferguson: “Explain how raising taxes on anyone during a deep recession is going to help with the economy.”
The president agreed that raising taxes in a recession would be a bad idea. “First of all, he’s right. Normally, you don’t raise taxes in a recession, which is why we haven’t and why we’ve instead cut taxes. So I guess what I’d say to Scott is – his economics are right. You don’t raise taxes in a recession. We haven’t raised taxes in a recession.”
But that was then. This is now. Last Sunday night, while meeting with congressional leaders, President Obama continued to demand that more than $1 trillion in tax increases be part of any deficit reduction package attached to a vote on the debt ceiling. During the meeting, Obama rejected a Republican proposal to seek $2.5 trillion in spending cuts and reforms, and insisted on higher taxes on businesses and wealthy individuals.
Of course, President Obama is on record as being opposed to raising the debt ceiling, also. In a March 16, 2006 podcast on then-Senator Obama’s congressional web site, he said: "We are voting on the budget today. It’s a sad state of affairs, we just voted to increase the debt limit. The U.S. total debt at this point exceeds eight trillion dollars. That’s eight trillion with a 't' ."
Back then, Obama said: “So we’ve got to get our fiscal house in order here in Washington. I’m not sure it’s going to happen under the current leadership in Congress. But we’re going to see what kind of difference we can make. To make sure that veterans programs, student loan programs, low income housing assistance programs, homeland security dollars, are receiving the highest priority, not just tax cuts for the wealthiest 1% of the population.” He voted against raising the debt limit.
Today, some six trillion dollars in deficit spending later, after 2-1/2 years as president, and 4 years of majority rule in Congress by his party, Obama has changed his tune. Now, he accuses Republicans who want to hold the line on the debt ceiling of irresponsibly leading the country to default and ruin.