Obama to Deal with Deficit by Campaigning for Tax Hikes

Trying to build public support for his deficit reduction plan

The White House plans an aggressive public campaign to build support for its approach to reduce the deficit through tax increases and spending cuts, a sharp contrast to its private talks with Republicans that faltered last year.

President Barack Obama will meet with labor leaders Tuesday and a number of chief executives on Wednesday, in an effort to solidify backing for his proposals.

Comments

[Gman]

Higher taxes on the very few won't save this sinking ship. We are headed for either hyperinflation or default, and democracies almost almost always choose money printing which results in hyperinflation.

Hyperinflation is a local event. It does not affect foreign currencies. There are several brokerage firms (and fewer banks) that will still allow American clients to open accounts without traveling to the foreign firms office. Many are completely removed from the western worlds unstable banking system. We're talking well capitalized firms operating in very solid, stable currencies in equally solid countries. You could hold your cash there in the local currency, or sometimes have a choice between several currencies, or purchase shares in companies earning their revenue and paying dividends in solid foreign currencies. See swisssolution.webs.com