President Barack Obama reprised his defense of his tax cut compromise with Republicans in his weekly address on Saturday, arguing that the fate of middle class families - and the still-fragile economic recovery - is at stake as lawmakers consider the proposal.
“The opportunity for families to send their kids to college hinges on this debate,” Obama said. “And our recovery will be strengthened or weakened based on the choice that now rests with Congress.”
The president also distanced himself from irate Democrats and satisfied Republicans by taking credit for the decision to compromise.
Though Democrats has been spoiling for a White House fight with Republicans to end expiring tax cuts for the nation's highest earners, Obama said middle class taxes would rise by an average of $3000 if a deal was not struck - an "unacceptible" proposition. Going to the mat with the GOP on high-end tax cuts, he said, was not worth the potential cost to families struggling to get by in tough times.
“That’s why I brought both Democrats and Republicans to the table – to put together a compromise, and work through our differences, so we could get this done,” Obama said.
Though he does not believe the tax cuts for the wealthy or generous estate tax rates that made many Democrats furious are sound policy, Obama said that the final proposal is “a good deal for the American people” and includes tax breaks that protect working families.
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