Obama says it’s time to get back to work

The Pak Banker - - Front Page -


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.

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