by William Teach | September 19, 2011 9:07 am
When you have one of the his biggest cheerleaders at The Politico, Carrie Budoff Brown, positioning the plan as such….
President Barack Obama will release a plan Monday to cut the federal deficit by $3 trillion over the next decade, drawing half the savings from new tax revenue and sparing Medicare recipients from having to wait longer to collect benefits, senior administration officials said Sunday.
Suffering an erosion of support from the broad coalition that elected him, Obama has crafted a plan that reads more like a blueprint for shoring up his restless Democratic base than a vehicle for reaching across the aisle in search of bipartisan compromise.
There is zero percent chance that his plan will pass, and, I doubt if he will even submit it to Congress. This is simply a measure to make him appear relevant and attempt to get his liberal base back on board for 2012. In a week we’ve gone from Obama’s Big Jobs Plan which had to be passed “Right Now!!!!!!” to “hey, I want to raise taxes on those evil rich people (of which Obama is one of them)”. The Washington Post notices that this has zero bipartisanship
President Obama will announce a proposal on Monday to tame the nation’s rocketing federal debt, calling for $1.5 trillion in new revenue as part of a plan to find more than $3 trillion in budget savings over a decade, senior administration officials said.
The proposal draws a sharp contrast with Republicans and amounts more to an opening play in the fall debate over the economy than another attempt to find common ground with the opposing party.
This is a political plan, not an economic policy, one which will never pass. The questions that should be asked are “what is the point of raising these taxes?” Will it create jobs? Will it actually help the economy? Will this extra money actually be used to reduce the deficit? Will Democrats stop spending so damned much? Will these millionaires work the system and shelter their money? Stuart Varney said that Warren Buffett should be the first one to voluntarily write a check to the IRS. I disagree: Barack Obama should be the first.
Anyhow, Obama’s is going to make yet another Rose Garden speech at 1030am (meaning, he’ll finally start about 1042am) on his so-called deficit reduction plan, a week after he made his little speech about his “jobs” plan. Speaking of his “jobs” plan, we learn
…..here we are on the next Monday after that next Monday and we’ve just learned from the No. 2 Democrat in the Senate, Dick Durbin, that actually it seems that body won’t really be seriously getting into the legislation for a while yet. The Senate has some other more important business to handle. And then there’s this month’s congressional vacation, which in Washington is called “a recess,” like elementary school.
So, the Democrat controlled Senate isn’t in any hurry to deal with Obama’s jobs plan.
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.
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