Press TV: Republicans Rebuff Obama Tax Hikes

Good News! Top Republican lawmakers have rejected the US President Barack Obama's appeal for tax hikes on rich and wealthy people. House Speaker John Boehner and House Majority Leader Eric Cantor say the worst thing Washington can do to destroy our economy is to raise taxes on the people we need. "The worst thing Washington can do for our economy is to raise taxes on the people we need to start hiring again," Cantor said. In a USA Today opinion page, they also called for cuts to government-backed health and retirement programs. This comes as a newly created Congressional committee faces a late-November deadline for recommending one and a half trillion dollars in deficit cuts over ten years. In a final deal reached by legislators to avoid default this month, President Obama signed legislation that did not include tax increases, but the "embattled" president, whose job approval have slumped, has said that he will renew his push for such measures.
In related stories: US Congress disapproval is now at a record high, and job approval for congress is at a record low. Also, S&P move is a Tea Party downgrade. In addition, the US debt crisis threatens the global economy, meaning the US may lose its AA+rating, while the US debt raise is not a "final" solution.