Rational Nation USA
Liberty -vs- Tyranny
President Obama acting like a true leader and Chief Executive Officer of the United States of America should act. Infuriating the progressive wing of his party he has signaled his willingness to address Social Security and Medicare cuts.
The New York Times - President Obama next week will take the political risk of formally proposing cuts to Social Security and Medicare in his annual budget in an effort to demonstrate his willingness to compromise with Republicans and revive prospects for a long-term deficit-reduction deal, administration officials say.Hm, the left wing of the President's party (the progressive extremists) are mobilizing against his budget proposal. Could it be rEpublicans have their best chance at being part of a rational step in the right directions by working with the President? It sure as hell seems so to me. Now we wait and see how it plays out.
In a significant shift in fiscal strategy, Mr. Obama on Wednesday will send a budget plan to Capitol Hill that departs from the usual presidential wish list that Republicans typically declare dead on arrival. Instead it will embody the final compromise offer that he made to Speaker John A. Boehner late last year, before Mr. Boehner abandoned negotiations in opposition to the president’s demand for higher taxes from wealthy individuals and some corporations.
Congressional Republicans have dug in against any new tax revenues after higher taxes for the affluent were approved at the start of the year. The administration’s hope is to create cracks in Republicans’ antitax resistance, especially in the Senate, as constituents complain about the across-the-board cuts in military and domestic programs that took effect March 1.
Mr. Obama’s proposed deficit reduction would replace those cuts. And if Republicans continue to resist the president, the White House believes that most Americans will blame them for the fiscal paralysis.
Besides the tax increases that most Republicans continue to oppose, Mr. Obama’s budget will propose a new inflation formula that would have the effect of reducing cost-of-living payments for Social Security benefits, though with financial protections for low-income and very old beneficiaries, administration officials said. The idea, known as chained C.P.I., has infuriated some Democrats and advocacy groups to Mr. Obama’s left, and they have already mobilized in opposition. {Read More}
I'm betting if the rEpublican party power structure digs their heels in the no new tax thingamajig America will toss the prey big wigs into the dust heap of political history. Which is of course exactly as it should be. IMNHO...
Via: Memeorandum
