Beware dangerous cliff
There are a lot of numbers and assertions in these statements by the president. We will primarily focus on the first statement, since it raises interesting questions of presidential responsibility.
But we do want to note the tax statement, since we seem to have a rare moment when Obama and GOP rival Mitt Romney appear to agree. Here’s what Romney said on Tuesday: “I admit this, he has one thing he did not do in his first four years, he’s said he’s going to do in his next four years, which is to raise taxes.”
Generally, Republicans have argued (and the Supreme Court agreed) that Obama’s health-insurance mandate is a tax. The health-care law also included a number of taxes aimed mostly at the wealthy. But broadly speaking, Obama has reduced taxes for most Americans, so much so that the Congressional Budget Office says that effective tax rates are at their lowest point in three decades.