From Real Clear Politics today (read the comments!):
"Jay Carney, White House press secretary: The top 2% of tax cuts that President Bush put into place in 2001 and 2003 are simply more than we can afford and by extending them we would be making a choice to place the burden on getting our fiscal house in order on the middle class, to place the burden of our fiscal challenges on seniors and on the disabled. We would make the choice to provide tax cuts to the wealthiest Americans as opposed to investments in education, investments in medical research.
We do not have infinite resources. One of the virtues of all the work that has been on this issue over the past two years, including the Simpson-Bowles commission, Rivlin-Domenici commission is the identification of the truth which is that tax cuts represent spending. Tax cuts reduce revenues and reflect the same kinds of choices you have to make when you allocate funds to defense spending, or education spending, or entitlement spending. So, this is the balanced approach the president believes we need to take.
When you say that it is more important to give tax cuts to the top 2% than ensure that Medicare as we know it stays in place. When the argument is made, you're making it a choice there that is harmful to the economy, is harmful to American seniors and is not supported by the majority of the American people."
