You have to give President Obama credit for chutzpah. He pushed through a faux stimulus in his first year and Obamacare in his second year, both of which significantly increased the burden of government spending.
In the past two years, he’s basically punted, proposing budgets that are so laughably unserious that they received zero votes in both the House and Senate. Including zero votes from Democrats.
But now he wants us to believe he favors a moderate-sounding deal that supposedly would reduce spending by $2.50 for every $1 of tax hikes.
This is utter fantasy and even leftists admit the President is engaging in gimmickry far beyond the smoke-and-mirrors chicanery that you normally find in Washington. Here’s some of what Reason’s Peter Suderman wrote about the topic.
President Obama described what he thought were the prospects for a big budget deal in the early part of a potential second term. “It will probably be messy,” he said. “It won’t be pleasant. But I am absolutely confident that we can get what is the equivalent of the grand bargain that essentially I’ve been offering to the Republicans for a very long time, which is $2.50 worth of cuts for every dollar in spending, and work to reduce the costs of our health care programs.”
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 17th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 16th, 2014 | John Ransom