As NRO’s Jim Geraghty is fond of telling us, all of Barack Obama’s campaign promises come with an expiration date — all of them. Yesterday, Obama unveiled his deficit reduction plan that would raise taxes by $1.5 trillion — one of the largest tax hikes in history. Two months ago, though, Obama insisted that no one was talking about tax hikes now, as MRCTV recalls:
So, when you hear folks saying ‘Well, the president shouldn’t want massive job killing tax increases when the economy is this weak.’ Nobody’s looking to raise taxes right now. We’re talking about potentially 2013 and the out years.
Has the economy caught fire between July 11th and yesterday? Not exactly. Job growth in August, for instance was a net … zero. Even so, we’re now apparently talking about tax hikes, not because the economy has caught fire, but despite the fact that it hasn’t.
MRCTV also recalls this moment from August 2009, when Obama told NBC’s Chuck Todd just how dumb it is to raise taxes in a recessionary environment:
The last thing you want to do is raise taxes in the middle of a recession because that would suck up… take more demand out of the economy and put businesses in a further hole.
Just to remind everyone — we actually had a higher rate of quarter-quarter growth in the third quarter of 2009 (1.7%) than we did in the second quarter of 2011 (1.0%). So what happened to worrying about sucking needed capital out of markets in a recession? Apparently, Obama’s more worried about the depression in his poll numbers than the recession we’re about to get in the economy.
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Illustrations by Chris Muir of Day by Day. Be sure to read the adventures of Sam, Zed, Damon, and Jan every day!