President Barack Obama said there is “no doubt” the government needs new revenue from closing tax “loopholes” and limiting deductions, along with enacting spending cuts, to reduce the federal deficit.
There’s “no reason why we can’t have really strong growth in 2013,” the president said in an interview with CBS television today before the network’s Super Bowl broadcast. He cited a recovering housing industry, strong manufacturing and rising car sales.
“There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” he said. “I don’t think the issue right now is raising rates.”
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