By now you know Obama is running around the country repeating his "pass this bill now" mantra. This is for a bill that wasn't even written when he started making the demand and apparently won't even be acted on by the Senate until October (see below).
Recall also that Obama said he would tell us later how he intended to pay for the bill. That too should have been a sign that politics, not serious legislation, was the point of this exercise.
Today, the day arrived when he learned how Obama intended to pay for the bill. It won't surprise anyone. From the Washington Times:
President Obama on Monday proposed a deficit reduction plan that calls for about $3 in new tax increases for every dollar in additional spending cuts as he seeks to put his imprint on the ongoing talks with Congress over reducing the government’s staggering debt.Phony accounting gimmicks and phantom cuts that will never happen. We've all seen this movie before and we know how it ends.
In a plan his advisers described as his ideological vision rather than a compromise offer to Hill Republicans, Mr. Obama also threatened to veto any plan Congress sends him that makes changes to Medicare benefits without also raising taxes on the wealthy, which he argues is central to a “balanced” approach.
Mr. Obama said his plan calls for $2 in cuts for every $1 in tax increases, but he reaches that by re-counting cuts already in law or in the planning pipeline, and by factoring in lower debt service costs.
Obama continues to repeat the poll tested phrase "a balanced approach" to describe his program. But calling it that doesn't make it so. Obama knows this massive tax increase won't pass either the House or the Senate. it's a joke, but not a funny one. When Americans are looking for leadership to address serious economic difficulties Obama answers with another political move designed to appeal to his base, reward his friends and "punish" his enemies.
If you needed more of a hint that his is all one giant political scam, the number two Democrat in the U.S. Senate is now saying that the Senate will go on vacation and not take up Obama's emergency "pass this bill NOW" legislation until sometime next month!
But meanwhile, that won't stop the Democrats have blasting Republicans for blocking Obama's "jobs" bill!