Obama "Agnostic" On Deficit Cuts, Won't Prejudge Tax Increases
President Barack Obama said he is "agnostic" about raising taxes on households making less than $250,000 as part of a broad effort to rein in the budget deficit.
Obama, in a Feb. 9 Oval Office interview, said that a presidential commission on the budget needs to consider all options for reducing the deficit, including tax increases and cuts in spending on entitlement programs such as Social Security and Medicare.
"The whole point of it is to make sure that all ideas are on the table," the president said in the interview with Bloomberg BusinessWeek, which will appear on newsstands Friday. "So what I want to do is to be completely agnostic, in terms of solutions."
Obama repeatedly vowed during the 2008 presidential election campaign that he would not raise taxes on individuals making less than $200,000 and households earning less than $250,000 a year. When senior White House economic adviser...