It was less than a week ago that politicians of both political parties were agreeing that it was time to get serious about the deficit, about getting our nation's fiscal house in order.
So what do they come up with? A tax-cut "compromise" that is more of a pander than anything else and will continue to sink the U.S. further into its sinkhole.
The "compromise" between President Obama and congressional Republicans makes no sense. Until yesterday, Obama was right to resist calls for restoring the old tax rates for the wealthy, and Republicans were right to insist on some degree of fiscal restraint in spending. So how do they "compromise"? Obama throws out his call for letting the George Bush tax cuts for the rich die, and the Republicans throw out any semblance of political integrity by caving in on unemployment benefits and other matters.
In other words, both sides have abandoned what they have previously considered as core principles. And for what? A budget that continues avoid taking responsibility for much of anything.
Obama is wrong. The Republicans are wrong. All claims of long-term vision ring hollow, and the tax deal they worked out is doomed to make matters worse in the long run.
0 comments:
Post a Comment