Obama Says He Will Veto Any Extension Of The Bush Tax Cuts!

From a Fact Sheet on on the "Debt Deal" from http://whitehouse.gov:


The Bush tax cuts expire as of 1/1/2013, the same date that the spending sequester would go into effect. These two events together will force balanced deficit reduction. Absent a balanced deal, it would enable the President to use his veto pen to ensure nearly $1 trillion in additional deficit reduction by not extending the high-income tax cuts."

In other words if the Democrats and Obama don't get a "balanced deal" there will be a $1 TRILLION tax increase without an extension of the Bush tax cuts!