Past the “cliff,” debt ceiling promises a more brutal fight
This time, however, it will be more difficult for Republicans to get Democrats to agree to spending cuts. In the summer of 2011, both parties were essentially placing bets on the outcome of the 2012 election. With Obama re-elected and Democrats still controlling the Senate, Democrats believe they are in a stronger position. …
For his part, Obama has insisted that he won’t negotiate over the debt limit this time around. This is unlikely to hold, given the potential consequences to the federal government, financial markets and the economy if it is never raised. And the fact that he made the debt ceiling a part of ultimately fruitless fiscal cliff talks with Boehner means he’s already negotiated over it. …
And from the Republican perspective, the tax debate is now closed. Income taxes have gone up by $617 billion, and the rich are now paying their “fair share.” The final fiscal cliff deal was a bitter pill for Republicans to swallow, but they were able to do so only because of the unique circumstances in which tax rates were expiring anyway, so that inaction meant $4.5 trillion in tax hikes on nearly everyone. Absent that automatic expiration issue — which ultimately forced even anti-tax crusader Grover Norquist to give Republicans a pass — there is no reason Republicans would agree to a penny more in higher taxes.
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
And the GOP will cave…………
Oil Can on January 3, 2013 at 10:35 AM
This just in from Boehner’s office …
“We’re gonna kick their asses!”
LMFAO
HondaV65 on January 3, 2013 at 10:35 AM
Anyone want to bet me serious money that the GOP won’t cave? I’ll take it at 10-1 odds.
gryphon202 on January 3, 2013 at 10:38 AM
Paul Ryan already telegraphed his cave on Hugh Hewitt last night.
gwelf on January 3, 2013 at 10:43 AM
President Dowgrade FTW.
CorporatePiggy on January 3, 2013 at 10:45 AM
Pffft. I’m included in that pool of “rich” though my lifestyle wouldn’t make anyone believe I’m rolling in cash.
Tell you what ISN’T going to happen, I’m not going to get any “richer” from this point on. My businesses will stay static, I won’t add so much as a part-time teenager sweeping my floors, and any hope the moochers have of bleeding any more from me is gone.
Bishop on January 3, 2013 at 10:46 AM
@gryphon No, the GOP won’t cave. You’ll have a laundry list of what the GOP wants. We’ll probably get 60% of it. Yeah, but many here will claim that since we didn’t get 100% of what we want, the GOP caved. Nope, the GOP has considerable leverage here.
tommy71 on January 3, 2013 at 10:46 AM
I read the other day that the top 1% pays as much as the bottom 95% in taxes. Mark Steyn has also recently remarked that our tax system is even more progressive than European socialist basket cases.
Pushing the “rich aren’t paying their fare share” is the primary way liberals have of perpetuating the lies that we have a revenue problem and not a spending problem and that enough revenue can be extracted from the “rich” to pay for it all.
gwelf on January 3, 2013 at 10:50 AM
If the GOP gets 60% of what it wants the problem still won’t be solved. Most spending cuts will not be real spending cuts and that other 40% will include more tax increases. Our national finances are on a decidedly grim course and half-hearted fixes wont do it.
gwelf on January 3, 2013 at 10:51 AM
Its actually more just human nature. Everyone knows revenue needs to be part of the solution. But human nature says you don’t want to give up anything so of course its better to make someone else give it up. Now with spending cuts it will be about poor grandma. Course since granma’s mooching will mean I’ll less than 75% of “what I paid in for all these years” (when in reality I’ve been paying for some other grandma’s lifestyle), screw grandma.
Zaggs on January 3, 2013 at 10:55 AM
@gwelf You’re conveniently ignoring the other 50% of folks who have a differing political ideology. You’ll never get 100% of what you want. 50% is good, 60% is excellent. Thats how things roll.
tommy71 on January 3, 2013 at 11:02 AM
I’m not ignoring it. I’m saying that 60% isn’t good enough to solve our problems. I’d rather the GOP actually shoot for fixing our problems even if the chances are slim instead of being party to a half-baked “fix” that guarantees a collapse but maybe kicks the can down the road a little bit further.
gwelf on January 3, 2013 at 11:11 AM
Polite way to frame the concept of being framed
The deal only pushes the automatic spending cuts up two months, conveniently about the time we hit the new fake debt ceiling, which had to be faked after we hit the last fake debt ceiling
This will generate the new crisis, and pols will cry crocodile tears and pass another temporary patch, which has become the new way to feed pork to the pigs
The game was lost the first year Obama got away without any budget. The Senate plays good cop bad cop with Obama, and pretends it cannot accept Obama’s ‘dream budget’ while obama pretends he cannot sign anything else from his own boys. They run on crisis, and rely on the greed of all, including GOP porkers, who will step up when it is their turn to collect
Meanwhile, the Republic is not run as Constitutionally designated, because only Congress can stop internal corruption, and the voters of the porker colonies voted to continue the looting
entagor on January 3, 2013 at 11:12 AM
If I use my starting list of demands I would be happy to get 60 percent. The problem is the GOP has a very small list to start with. The GOP leadership has no desire to cut the size of government.
Corsair on January 3, 2013 at 11:15 AM
@gwelf Then you’re bound to be dissapointed. What you say is possible if we control the WH, Senate and House. As of now, its kicking the can. But most here would say that the GOP caved. Thats just not true. Control the levers of govt., and you have a chance. As long as the future pub President is really serious bout it. The pubs talk but don’t act. But I’m encouraged that many pubs are doing it on a state level.
tommy71 on January 3, 2013 at 11:35 AM
Just raise it to 20 billion no questions asked.
ninjapirate on January 3, 2013 at 12:44 PM