White House Pushes Back on Orszag's Call to Extend Bush Tax Cuts
Revenge of the Power Nerd.
10:30 AM, Sep 7, 2010 • By MARY KATHARINE HAM
Assuring everyone that they're unwilling to listen to economic reason, even from the man employed as their budget director a month ago, the White House spokespeople were sent forth this morning to refute the former OMB director's inaugural New York Times column.
In the column, Orszag called for a two-year extension of the Bush tax cuts, at which point they would end, completely. The message is at odds with the White House's contention that Congress should raise taxes on higher income brackets, extending only cuts for the middle class. Orszag echoes conservative concerns about Obama's preference, saying a hike could make an "already stagnating jobs market worse over the next year or two."
He goes on to say that "revenue" (read: taxes) must be part of the equation when solving our long-term budget problem and lambast conservatives for wanting to cut taxes, which would affect the deficit. But those parts aren't getting much attention.
And, no, I still don't think Orszag's sexy. But he's inching closer.