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« Why doesn’t Boehner say the House gets a balanced budget ‘free’? | Main | China hears freedom’s tweet: ‘One word of truth outweighs the whole world’ »

December 31, 2012

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Neo

We went through the entire last election cycle with the meme that “taxing the rich would solve the debt problems” never ever being given though review by the 4th Estate. Now, it’s all gone .. for New Jersey and New York.

Yes … “What difference, at this point, does it make?”

Neo

Bob Woodward’s “The Price of Politics,” Page 215 (July 12, 2011):
“A trigger would lock in our commitment,” [White House national economic council director Gene] Sperling explained. “Even though we disagree on the composition of how to get to the cuts, it would lock us in. The form of the automatic sequester would punish both sides. We’d have to September to avert any sequester” — a legal obligation to make spending cuts.

“Then we could use a medium or big deal to force tax reform,” Obama said optimistically.

“If this is a trigger for tax reform,” [House speaker John] Boehner said, “this could be worth discussing. But as a budget tool, it’s too complicated. I’m very nervous about this.”

“This would be an enforcement mechanism,” Obama said.

Obama Nov 21, 2011: "I will veto ANY attempt to prevent the sequester."

Obama Oct 22, 2012: "First of all, the sequester is not something that I've proposed. It is something that Congress has proposed. It will not happen."

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