President Obama Delays Decisions and Courts DisasterOctober 11, 2012 @ 3:56 pm (Updated: 10:48 am - 10/12/12 )
If President Obama continues to block agreements with Congress, on January 1st - three weeks before inauguration day!- taxes will go up sharply on every American, with typical middle class households paying increases above $3,000.
Our defense budget will also suffer automatic cuts Obama's own Defense Secretary called "catastrophic." The president wants to wait till the election, hoping he can force a better deal if he wins, though Republicans say they still won't accept tax hikes. And if he loses, the president may reach no deal at all, preferring to hand Mitt Romney a wrecked economy and to blame Republicans.
The non-partisan Congressional Budget Office says the resulting recession could prove even worse than the collapse of 2008, but the president prefers to play politics rather than acting now to avert disaster, or even revealing his post-election strategy.
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