Obama Says He Will Veto Any Deficit Reduction Plan That Doesn’t Raise Taxes

National Journal:

President Obama warned he will veto any deficit plan brought to him by Congress that wasn’t ‘balanced’ between taxes and spending cuts.

‘We are not going to have a one-sided deal that hurts the folks who are most vulnerable,’ Obama said Monday morning, speaking from the Rose Garden.

The president argued, as he has repeatedly, that wealthier Americans ‘shouldn’t get a better deal than ordinary families.’

The president’s veto threat is a response to the hard line struck last week by House Speaker John Boehner, R-Ohio, in a speech he delivered on the economy. Boehner said tax reform should be on the super committee’s agenda. But he ruled out any tax increases, saying they “are not a viable option for the joint committee.”