President Obama’s overreach
The endgame of a grand budget deal is not difficult to determine. Obama would get his rate increases, perhaps on earners making $500,000 a year or more, along with a variety of loophole closings for the wealthy. Republicans would get modest structural reforms of Medicare — perhaps adjusting the eligibility age, increasing means testing and putting limits on “medigap” policies. And Medicaid could move toward a per-capita cap on the federal portion for non-disabled people — an idea supported by governors of both parties.
If Obama really wants long-term fiscal stability that will reassure markets and encourage investment and growth, he needs the leverage of Republicans pushing for entitlement reform within budget negotiations. If he merely wants to fund unsustainable federal commitments for a few more years through higher taxes on the wealthy, he will try to steamroll Republicans on rates. So far, he seems to be taking the latter course.
Blowback
Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.
Trackbacks/Pings
Trackback URL
Comments
But he doesn’t.
The Rogue Tomato on December 4, 2012 at 11:48 AM
Yeah, small businesses GROSSING $500,000 need to be stolen from MORE so Dems can give their money to Obamaphone Lady.
bob77 on December 4, 2012 at 11:48 AM
May he spontaneously combust from arrogance alone.
Pride goes before demise.
Schadenfreude on December 4, 2012 at 11:49 AM
Exactamundo rogue
cmsinaz on December 4, 2012 at 11:59 AM
What Schadenfreude said:
Pride goeth before the Fall…
A wise President would look for a win-win situation where both Parties get something and he comes out smelling like a rose. People would look at each other and say, “yep, we voted for the right guy”.
But that isn’t Obama. He is a smart man, but not a wise man.
victor82 on December 4, 2012 at 12:02 PM
He wants to both split the Republicans over the tax increase as well as get enough revenues to fund these programs for a few more years and let the next government/administration address it.
He’s not going to go to China like Nixon and make structural reforms.
He and the liberals believe that if they can splinter the Republicans, muddle through for a while, that they’ll get a much better deal down the road.
It’s all politics.
SteveMG on December 4, 2012 at 12:03 PM
Obama wants the destruction of the middle class.
All else is b/s.
Schadenfreude on December 4, 2012 at 12:07 PM
Its only overreach when a Republican does it.
MSM/Lefties/Dems
Gatsu on December 4, 2012 at 12:08 PM
He’s only as smart as Hitler was, not very smart, just narcissistic and driven to destroy. He knows only himself.
Such arrogance always gets punished, as it should.
May he and the media be totally destroyed.
Schadenfreude on December 4, 2012 at 12:08 PM
John Lindsey bankrupted New York. But New York didn’t go backrupt under John Lindsey — his eight-years in City Hall were over a year in the rear-view mirror when the bill came due under his replacement, Abe Beame (who had been city comptroller and should have known what he was getting into).
Obama’s in the same situation — he really doesn’t care if things fall apart in 2017 or 2018, either with the Republican or a Democrat in the White House. Just as long as he can keep spending for the next 49 1/2 months, he doesn’t care if the spending and tax proposals are unsustainable.
jon1979 on December 4, 2012 at 12:09 PM
Bark will do just enough to get him through his term without too much obvious damage and then ride off into the Hawaiian sunset with his pension.
The Great Experiment has been a disaster but as long as Dog Eater gets his share of the pie, it’s all good.
Bishop on December 4, 2012 at 12:13 PM
I think that’s true with him but the reason that Congressional Democrats are going along is that they think they can split the Republicans, win back the House and then deal with the problem their way later on.
I.e., massive tax increases.
So, Obama has one goal – kick the can down the road – while the Congressional Democrats have another – gave political advantage when action does need to be taken.
Liberals really, truly believe that this can be solved through tax increases only on the rich. And defense cuts.
Try to explain to them the math and you’ll get nowhere. “Well, we’ll just go back to the 90% rates” they’ll say. Yeah, the money will always be there. It just magically appears.
SteveMG on December 4, 2012 at 12:14 PM
Ding ding ding gatsu
cmsinaz on December 4, 2012 at 12:18 PM
‘Toon of the Day: A Teenager is the Leader of the Free World
Resist We Much on December 4, 2012 at 12:46 PM
Right. What he wants is continued fiscal instability he can blame on capitalism and Republicans. He will use the continuing economic crisis to keep asking for more economic power. IOW, the community organizer and part time law school guest lecturer had total dictatorial power over the economy all would be well, because no one else better knows how to run a command economy. His useful idiots agree.
farsighted on December 4, 2012 at 12:56 PM
Edit…
IOW, if only the…
farsighted on December 4, 2012 at 12:57 PM
Better:
Obama oligarchy’s offensive & outrageous Orwellian overreach
itsnotaboutme on December 4, 2012 at 1:33 PM
To Hades with Boehner, Obama and McConnell, Harry too.
Schadenfreude on December 4, 2012 at 1:34 PM