With ‘Fiscal Cliff’ Looming, Obama Books A Trip To Asia


obama-air-force-onePresident Obama yesterday announced he’s jetting off on a victory lap around Southeast Asia, despite a new government report warning the Jan. 1 fiscal cliff will plunge the US into a recession and drive the unemployment rate up to 9.1 percent.

Obama and Congress have just 52 days to reach a deal to avoid sailing off that precipice, when a devastating double whammy of tax hikes and budget cuts will rock the economy and hit just about every American.

The negotiations will be difficult. Obama signaled he’s sticking to his demand for raising taxes on the wealthy. That’s long been a nonstarter with Republicans.

He will issue a statement today “about the action we need to take to keep our economy growing and reduce our deficit,” the White House said last night.

His chief political strategist, David Axelrod, said re-election gives Obama the upper hand.

“If the attitude is that nothing happened on Tuesday, that would be unfortunate,” Axelrod told MSNBC.

House Speaker John Boehner (R-Ohio) yesterday took all tax-rate increases off the table, though he said Republicans would accept other revenue measures, such as closing loopholes and eliminating deductions.

“Raising taxes on small businesses will kill jobs in America. It is as simple as that,” he told USA Today.

But those tense negotiations won’t interfere with Obama’s boarding Air Force One for a three-day tour of Bangkok, Rangoon and Phnom Penh.

Along the way, he’ll meet with Thai Prime Minister Yingluck Shinawatra to mark 180 years of diplomatic relations, chat with Burmese dissident Aung San Suu Kyi and attend the East Asia Summit in Cambodia. He takes off Nov. 17.

Read more at the New York Post.

{Matzav.com Newscenter}


  1. If you are going to waste our time for the next four years criticizing and deriding the president, we’re going to have to turn you off

  2. Some observations.

    1. The President doesn’t want to raise taxes on small businesses. He wants to raise taxes on the very rich. Another echo of why the Republicans lost this time. They tried to fool people about their agenda. Let them get back to working for regular people and stop fibbing.

    2. Southeast Asia is an important trade and economic partner of ours. Strengthening our ties there will help make China think a bit longer if it wants to call in the huge debt we owe.

    Revenue comes from taxes. Period. No new taxes, no new revenue. The middle class can’t afford it. That leaves the rich, who get all the benefits of living in the US without paying the price. What’s an extra million or two to a billionare? What’s an extra thousand or so to someone trying to raise kids on $50 thousand a year? You get the picture.