King Baroke I May Veto His Tax Proposal if Not Granted Power to Raise Debt Ceiling

Obama May Veto His Tax Proposal if Not Granted Power to Raise Debt Ceiling

On Wednesday, President Barack Obama indicated that having unlimited powers to raise the debt ceiling without Congress’s approval may be more important to him than raising taxes -- and he may veto his own tax hike proposal to take the country over the fiscal cliff if he does not get his ultimate wish.

Addressing corporate CEOs at the Business Roundtable, Obama said using the debt ceiling as leverage to get more spending cuts was a “bad strategy for America” and “it is a game I will not play.”

According to The Hill, Obama also told the business leaders that they “should not accept going through” another round of debt-ceiling negotiations like the one in 2011.

“We can’t go there again,” Obama said.