Most striking to me lately is the framing of President Obama's latest budget proposal, in which he puts in writing his offer last year to John Boehner, to cut benefits to Social Security and Medicare, in return for tax increases. It's the "grand bargain" all the centrist pundits are keen on, and in fact it's not anything new- it seems that the administration has been continually frustrated by the mainstream media's framing of the budget issues, blaming both sides for the budget impasse while the administration proposes compromise after compromise and is rebuffed.
This has been building as centrist pundits like David Brooks kept criticizing Obama for not reaching out to the GOP, while pushing him to propose exactly what he was already proposing. Of course the real reason that no Grand Bargain is possible is that Republicans are totally unwilling to consider revenue increases under any circumstances, and thus have nothing to offer in any compromise that's better than the status quo to Democrats and liberals. The right wing press is completely hysterical about the budget deficit, insisting that our out-of-control debt will destroy Ameerica, but they won't endorse raising taxes one nickel in order to combat it- which makes one wonder how serious a problem it really is in their minds.
But there's something else happening that doesn't seem to be getting noticed through all the carping: the budget deficit is actually going down already. With the tax increases of 2013, the Sequester, the economic recovery, and previous budget cuts forced by Republicans, the deficit is down 47% in four years. And that's while the US is among the lowest-taxing countries in the first world.
That's 2010, and this year's tax increases would change things a little, but not much. Now a sane Republican party would be bragging about how their tight-fisted spending has brought the deficit down even while taxes remain really low. They have every right to brag about it! Spending is certainly much lower because of the influence of the Tea Party. But it seems like the Republican party is now temperamentally unable to celebrate victory if they have to share it with Obama or Democrats. In some ways this is the biggest obstacle of all to productive lawmaking in a divided country- if Obama agrees to it, it's by definition a bad deal for them.
Wealthy, not middle class, support Obama
ReplyDeleteA largely jobless recovery coupled with a Quantitative-Easing-fueled stock market rally seems to earn more smiles from the upscale among us, fewer from the working class. Has the Fed inadvertently created a Millionaires dream in the midst of President Obama’s Presidency? Was it accidental or (God Forbid) meant to reward his rich Hollywood pals and campaign donors? In either case it has gone right over the heads of the loyal left. It could be that we have a President who is presiding over a “Rich get Richer and Poor get Poorer” 8 years. What a revelation that would be! Certainly Nancy Pelosi and Harry Reid are aware of it. Other than these two and the White House is it the best kept secret next to the Benghazi cover up?