Former President Bill Clinton told CNBC that he's in favor of extending tax cuts for the wealthiest 2% of Americans. President Obama is opposed to extending the Bush-era tax cuts and wants the richest Americans to pitch in.
House Republican leaders sang Clinton's praises, saying they agree with the former president about extending the tax cuts. The Bush tax cuts expire January 1 at the same time $1.2 trillion in spending cuts go into effect.