Wednesday, July 06, 2011

This will be the end of Obama:

Several news stories broke last night suggesting that President Obama wants to broaden the debt ceiling deal with Congress, reducing deficits by $4 trillion over a decade, rather than the $2 trillion previously believed. Here's Politico, here's the New York Times, and here's the Washington Post. The reports all suggest Obama will agree to cut Social Security and Medicare in return for higher revenue.
Obama blundered by not getting a debt ceiling deal last December and now he's trying to get out of a jam by conjuring up a bigger concession (in scope and particulars). But the amazing thing is for him to do the Republicans' dirty work of cutting Social Security and Medicare while leaving Bush tax cuts and the wars firmly in place.

It's a disgrace.

The situation is still fluid, but it appears that all Obama would get are minor tax changes (aka "closing loopholes") in exchange for substantial cuts in entitlements. And there is even talk that he'll do a deal on the Bush tax cuts which would remove any leverage the president might have had in late 2012 on that issue.


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By Anonymous Andy, at 7/08/2011 12:26 AM  

How would you say Obama compares to Jimmy Carter at this point? Everyone vilifies Carter but honestly I think Obama is worse.

By Anonymous e. nonee moose, at 7/08/2011 7:49 AM  

You're falling for unsourced crap from the fish wraps known as the Washington Post, The Wall Street Journal and the New York Times. No one really knows what's happening behind closed doors because it's, well, you know, happening behind closed doors. It's spin from GOP-controlled papers that is designed to enrage liberals so they'll turn against Obama. No Democratic president is going to slash benefits. If it weren't for the Democrats, these benefits wouldn't exist at all. Until I hear more from credible sources, I'll forego the freakout, thank you.

By Anonymous Screamin' Demon, at 7/08/2011 10:25 AM  

But the latest proposal to extend the payroll tax holiday (and drive SS revenue into the ground) came from Obama and the Dems, not the Reps.

I've seen Obama's type before. He advances by sniffing out and aligning with power. That's how he got where he is and now that power is shifting to the right that's how he is going to move. He doesn't give a rats ass if the entire Democratic Party is wiped out as long as he thinks he can win reelection. There is going to be a lot of blood in the water between now and 2012.

By Anonymous Anonymous, at 7/08/2011 6:30 PM  

>(and drive SS revenue into the ground)

The tax cut was made to FICA for implementation reasons, but the money will be printed to make up for it.

This is bad optics but it is all the same in the end.

By Anonymous Troy, at 7/11/2011 12:48 AM  

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