Obama Pushes Stale, Tired “Grand Bargain” Plan That Has Already Failed

The man is truly out of ideas, but, then, he was out of ideas years ago, therefore he keeps recycling the same garbage that has failed to work. Consider

(CBS News) President Obama is “more than happy to work with the Republicans” on creating a bipartisan budget that could pass a split Congress, he told CBS News anchor Scott Pelley in part of an exclusive interview that aired Sunday on “Face the Nation.” The only problem is, the plan he’s proposing has already been rejected by the GOP-controlled House.

And it was partially rejected because Obama kept asking for more and more and more in terms of tax increases. Harry Reid and John Boehner were close to an agreement and were able to work together despite the vastly different political viewpoints because they are both adults who understand how things get done, versus Obama who is a tin pot dictator with no experience negotiating and who usually ran from tough decisions.

“Keep in mind that the trillion dollars that we cut, you know, was a painful exercise,” the president said when asked what he’d be willing to compromise in order to finally reach a “grand bargain” on the 2013 federal budget, which remains in limbo, save for a recently-passed continuing resolution. “There are some programs that are worthy, but we just can’t afford right now.”

Mr. Obama’s plan for reducing the deficit would cut $2.50 in spending allowances for every $1 of increased tax revenue – the same deal House Republicans turned down during last year’s near-government shutdown episode. When Pelley reminded him of that, the president reasoned, “That’s part of what this election’s about,” adding that GOP nominee Mitt Romney told “Face the Nation” in June he stood by an earlier pledge not to raise taxes, even if it meant $10 in spending cuts for every $1 increased revenue.

We’ve already seen this movie: all the tax increases come now, and the spending cuts are scheduled for down the road and never appear. Ronald Reagan was hosed by the Democrats when he tried this.

“And if we go back to the tax rates for folks making more than $250,000 a year, back to the rates that we had under Bill Clinton,” he continued, “we can close the deficit, stabilize the economy, keep taxes on middle class families low, [and] provide the certainty that I think all of us would be looking for.”

First of all, raising the taxes on those people won’t even come close to closing the deficit: it’ll pay for about 8 days of government spending at current rates a year. Second, moving money from the private sector directly to the government is no way to stabilize the economy: the way to do that is to provide positive incentives for people with wealth to start spending and investing, which puts more money in the economy. This would also stabilize state and local governments, who would see money come in via sales tax, property tax, and income tax.

Certainty is not demonizing the employers, who know full well that they’ll continue to be demonized and attacked, and could see even more taxes and assaults. But, of course, Obama sees government as the stabilizer of the economy, instead of being one of the big problems in getting the economy going. Actually, on second thought, Obama has stabilized the economy. It’s currently stable at 8%+ unemployment, low GDP, tons of long term unemployed, tons of folks abandoning the labor force, etc and so on.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

Leave a Comment

Share this!

Enjoy reading? Share it with your friends!

Send this to a friend