Wednesday, November 23, 2011

Obama & Dems Torpedo Deficit Super Committee By Singular Focus on Raising Taxes

Dems refused to cut spending or to consider Republicans offer of $500 billion in new revenue!

No one should be surprised by the collapse of the so-called "Super Committee" tasked with finding $1.2 trillion in deficit reduction. The very idea that Democrats would compromise on REAL cuts in spending with a rational and balanced compromise with Republicans was doomed from the start. Besides, we have seen this movie before and we know how it ends.

The Super Committee was born as part of a compromise on lifting the debt ceiling at the end of July. Prior to the Super Committee idea, President Obama rejected Speaker Boehner's offer of $800 billion in new revenue which did not raise tax rates was rejected by Obama who demanded $400 billion more in tax increases. At the time, Boehner complained that Obama "moved the goal posts."

Obama used Boehner's refusal to surrender on every principle that formed the backbone of the GOP's big win in the 2010 mid-term congressional elections to unleash another round of the class warfare rhetoric which has made Obama the most polarizing president in modern history according to Gallup.

In the Super Committee Republicans once again offered a sweet package of $500 billion in revenue enhancements that actually lowered tax rates by closing loopholes. Democrats refused to even consider it. The Wall Street Journal described the GOP plan this way:
[Republicans] offered to raise revenues by $500 billion over 10 years as part of a tax reform that would lock in lower tax rates in return for giving up deductions. Democrats have rejected it, which is puzzling since it would achieve so many of their stated goals.
But in rejecting the GOP proposal Democrats proved once again that they were more interested in playing politics and continuing with class warfare than they were in finding a solution to the deficit problem. Obama was in New Hampshire on Tuesday talking again about how Republicans want to "protect massive tax breaks for millionaires and billionaires." In usual hypocritical style, Senator John F. Kerry (D-MA), a member of the Super Committee blamed Republicans for the failure while at the same time insisting that both parties should work together and stop pointing fingers at the other.

It's clear that Democrats have only one thing on their mind: RAISING TAXES! There was no serious effort on their part to present anything like real spending cuts or even to consider tax reforms that would be fair to all taxpayers while raising more revenue.

The game of politics and finger pointing is what they do best and they know they can count on an array of media friendly allies to parrot their talking points as if they are true.

Meanwhile, the deficit has now exceeded $15 trillion and not one deal signed off on by Democrats has cut even the rate of growth!

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