President Obama must think he’s doing boffo with his press conferences because he had a mini one again today.
Today’s was to announce that the Gang of 6 Senators, now 7 with Tom Coburn rejoining them – Democrats and Republicans – are coming around to his way of thinking on raising the debt ceiling. Obama said the plan has 3.7 trillion in cuts, one trillion through eliminating loopholes. They “put forward a proposal that is broadly consistent with the approach that I’ve urged. We’ve got to be serious about reducing discretionary spending both in domestic spending and defense. Look at Medicare spending and entitlements in a serious way and we’ve got to have some additional revenue.” Blah, blah “shared sacrifice” and “everyone giving up something. Revenues will have to be part of a balanced budget.”
To listen to him it is striking how completely detached he is. You would think he was a judge in a court rather than the leader of the free world. It’s as if someone has put this problem in front of him; that he has had nothing to do with the running of the country for the past few years. It’s quite a performance.
The whole thing looks like his Chief of Staff Bill Daley is advising him to follow Clinton’s model and look like he’s the moderate in this discussion. We all know that someone who has pumped our deficit up to near explosion level via stimulus, TARP and Obamacare can’t afford to look like the extremist he is.
Of course, defense is in his crosshairs. Clinton did that, too, and when 9/11 happened our military was denuded from all his cuts to the point of almost being inoperable.
Closing loopholes translates as raising taxes. You and I will pay the price for increased costs corporations will be hit with through increased prices.
Shared sacrifice is a hoot, too. When about 50% of the public does not pay taxes, they won’t share in the “sacrifice” at all.
The “cuts” he’s talking about probably will not materialize. The trick is to start them in the future. When time comes for implementation, Democrats will not agree and it will be put off to the future. Then, many of the perpetrators will have retired.
Of course he wants it done quickly. He’s got a big fund raiser in Chicago to go to August 3. Can’t keep the money people waiting!