WASHINGTON (CNN) – The White House shot down concerns Monday that middle-class families may face a tax increase in order to combat rising deficits and a struggling economy.
"The president was clear during the campaign about his commitment on not raising taxes on middle-class families," White House press secretary Robert Gibbs said Monday afternoon. "I don't think any economist would believe that, in the environment that we're in, that raising taxes on middle-class families would make any sense."
The concern came after the Obama administration's two top money men floated the idea that tax increases to fund the nation's economic recovery could extend beyond the wealthiest Americans.
Treasury Secretary Timothy Geithner and Larry Summers, director of the National Economic Council, said Sunday they could no longer guarantee the middle class will be spared a tax increase.
"We have to do what's necessary," Geithner said on ABC's "This Week." "The critical thing is people understand that when we have recovery established - led by the private sector - and we have to bring these deficits down very dramatically ... we have to bring them down to a level where the amount we're borrowing from the world is stable and at a reasonable level."