Obama says it’s time to get back to work
Fresh from his re-election, US President Barack Obama on Monday said it was time to get back to work on the economy and pitched for raising taxes for the rich. Obama, who has invited the Congressional leaders from both the parties next week to discuss and find a solution to the fiscal cliff, warned that in the absence of unanimity country’s middle class would face a tax increase next year.
Now that those of us on the campaign trail have had a chance to get a little sleep, it’s time to get back to work, and there is plenty of work to do. As I said on Tuesday night, the American people voted for action not politics as usual. You elected us to focus on your jobs, not ours, said Obama.
He said people have voted for the plans and ideas that his administration has advocated, and it was time to put them into practice. Noting that the US economy is still recovering from the great recession, he said top priority has to be jobs and growth and priority should be rewarding small businesses and manufacturers “that create jobs here and not overseas”.Given the impending fiscal cliff, Obama emphasised on the urgency to arrive at solutions as soon as possible. He said this was the policy adopted by Bill Clinton’s administration in the 1990s, and this was the way to reduce the deficit while still making the investments to build a strong middle class, and a strong economy.
Obama asserted that, with re-election, he has an upper hand in this policy making as majority of Americans agree with his approach. If the Congress fails to come to an agreement on an overall deficit-reduction package by the end of the year, Obama warned everybody’s taxes will automatically go up on January 1st including the 98 percent of Americans who make less than USD 250,000 a year.
Stating that the Senate has already passed a bill doing exactly this, Obama said that the Republican-majority House of Representatives needs to follow suit.