Obama: Bush Tax Cuts For Wealthy Will Not Be Extended, Period

[Liberal_Stalwart71]

46. I find it interesting that the same people in this thread who are trashing Obama

Are the same ones who give Bill Clinton a break. The reason why Obama/the Democrats extended the Bush tax cuts initially is the SAME, EXACT reason that President Clinton gave the other day for why the tax cuts should be extended...

CLINTON: [W]hat I think we need to do is to— find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now, and then deal with what’s necessary in the long-term debt reduction plan as soon as they can, which presumably will be after the election.

BARTIROMO: So does that mean extending the tax cuts?

CLINTON: Well, I think what it means is they will have extend—they will probably have to put everything off until early next year That’s probably the best thing to do right now. But the Republicans don’t want to do that unless he agrees to extend the tax cuts permanently, including for upper income people.

And I don’t think the president should do that. That’s going to—that’s what they’re fighting about. I don’t have any problem with extending all of it now, including the current spending level….The real issue is not whether they should be extended for another few months. The real issue is whether the price the Republican House will put on that extension is the permanent extension of the tax cuts, which I think is an error.

http://talkingpointsmemo.com/archives/2012/06/bill_clinton_bush_tax_cuts.php

What Bill Clinton is explaining above is Obama's *EXACT* reason for why he extended the tax cuts at the end of 2010.