Clinton 'very sorry' for suggesting extension of Bush tax cuts [View all]

[dkf]

Bill Clinton said Thursday that he was "very sorry" for suggesting President Obama should support the renewal of the Bush-era tax cuts before the election, a statement some have suggested undermined President Barack Obama.

“I’m very sorry for what happened. I thought something had to be done on the fiscal cliff before the election,” Clinton told CNN in an interview set to air Thursday. "I support his position, and I think on the merits, upper-income people will have to contribute to long-term debt reduction.”

While President Obama has expressed support for extending the tax cuts for middle-income Americans, the White House has signaled that they would demand an increase in taxes for the wealthiest of Americans. But Republicans, who support making the full range of tax cuts permanent, seized on Clinton's comment last week that extending the cuts was "probably the best thing to do right now."

In the interview with CNBC, Clinton did clarify that he was only for a temporary extension, and said the president should not concede the issue of permanent cuts for the wealthy. But the GOP nevertheless argued that Clinton was supporting their position on the issue.

http://thehill.com/video/in-the-news/231603-clinton-very-sorry-for-suggesting-extension-of-bush-tax-cuts