It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
WASHINGTON (CNN) -- The White House shot down concerns Monday that middle-class families may face a tax increase in order to combat rising deficits and a struggling economy.
The president was clear during the campaign about his commitment on not raising taxes on middle-class families," White House press secretary Robert Gibbs said Monday afternoon. "I don't think any economist would believe that, in the environment that we're in, that raising taxes on middle-class families would make any sense."
The concern came after the Obama administration's two top money men floated the idea that tax increases to fund the nation's economic recovery could extend beyond the wealthiest Americans.
Treasury Secretary Timothy Geithner and Larry Summers, director of the National Economic Council, said Sunday they could no longer guarantee the middle class will be spared a tax increase.
Geithner added that "very hard choices" need to be made in order to bring down the deficit.
"And we're going to have to try and do that in a way that doesn't add unfairly to the burdens that the average American homeowner already faces."
Summers said on CBS' "Face the Nation" on Sunday that "there's a lot that can happen over time ... so it's never a good idea to absolutely ... rule things out no matter what."