"White House Tells GOP To Offset Military Spending Cuts With Taxes On The Rich"
Last week, Republican Arizona senators John McCain and Jon Kyl unveiled a bill aimed at preventing the military spending cuts (around $600 billion) mandated after the congressional debt commission’s super committee failed to agree on where to trim $1.2 trillion from the federal budget. Taking cues from Rep. Howard “Buck” McKeon (R-CA), McCain and Kyl said they won’t raise taxes to offset the military spending cuts, but instead cut federal jobs and freeze federal worker pay. Yet it looks like the White House is standing firm in opposition. TPM reports that the Obama administration “will not support any effort to swap out scheduled cuts to defense programs…unless Congress passes a balanced package of deficit reducing legislation of equal or greater measure. That means new tax revenue from wealthy Americans and corporate interests.”