Tuesday, July 12, 2011

Obama Calls Republicans’ Bluff In Debt Ceiling Talks

Yesterday I noted my objections–shared with many Democrats–to President Obama’s proposed compromises in the debt ceiling negotiations. I must admit, though, that intentionally or not, Obama called the Republicans’ bluff and exposed their extremism. The GOP is so devoted to tax cuts for the wealthy that they can’t compromise during crucial negotiations even when sacred Democratic programs–Medicare, Medicaid and Social Security–are on the table. The Republicans continue to falsely relate tax cuts to job creation:

In a statement after the meeting, [Senator Mitch] McConnell’s [above left] spokesman, Don Stewart, said, “It’s baffling that the president and his party continue to insist on massive tax hikes in the middle of a jobs crisis.”

These tax cuts must continue because they're enabling corporations and the rich to create millions of jobs, right? And which business-crippling, job-killing proposals are causing the Republicans to balk?

Republicans, led by [Rep. Eric] Cantor [above right], rejected proposals to close loopholes or other tax breaks for owners of corporate jets, oil and gas companies and hedge funds. They said these measures, which would have raised about $130 billion, amounted to tax increases.

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