The GOP has acknowledged that they are open for negotiations that would include additional tax-based revenue*. In true form following President Obama's call for working together to address these problems, the Democrats have offered to raise taxes on the wealthy and consider, at a later time, longer term solutions to debt reductions. Huh? Hey, Mr. President, Sen. Reid, Rep. Pelosi, guess what - the math doesn't work. In addition to the increase in tax revenue that they expect to get from the expiration of 2001 and 2003 tax cuts, it is expected that the Democrats will work to get an increase in the debt ceiling. Let me translate that: the debt is going to go UP not down with this increased tax revenue. How is this even considered a reasonable attempt at addressing the country's problems?
Jay Carney characterized President Obama's (incomplete) plan as "pragmatic". Someone in the press corps room should pass Mr. Carney a dictionary. It is not practical to leave federal spending unaddressed and just attempt to raise the revenue side. There are plenty of liberals out there that agree we need to cut spending. We might differ in where in the federal budget cuts should be made but there is large support nationwide that federal spending cuts must be made.
Senator Reid said Democrats are still waiting for a reasonable proposal from Republicans on how to avoid a potential financial meltdown. Excuse me but as many pundits on the left are saying, Obama won and the Democrats held the Senate, so why aren't they leading this? Is this another example of the Democrats "leading from behind." The White House on Thursday called Boehner's demand that any increase in debt limit be matched in cuts "irresponsible." Someone needs to explain to me why that would be irresponsible. Please? Anyone?
Let me make it simple:
- The GOP is looking to address the issue now with a bent towards keeping taxes low.
- Democrats are looking to increase federal tax revenue and ignore the spending issue.
* I'm sure the GOP is using this language intentionally to angle for limiting deductions, closing loopholes, and other means of increasing tax-based revenue without raising tax rates.