Monday, August 1, 2011

Debt Ceiling Debate - #3128- HOUSE VOTE : 269-161 - Barack Obama is Keyser Soze - Redstate (2) Liberals Force Choice Between Economic and National Security - Heritage Foundation

Playing off of Francis’s timely post, I think we should start considering Barack Obama the Keyser Soze of American politics. He’s got the Democrats to take the fall with the base, convinced Obama is an inept negotiator. He’s got the GOP befuddled thinking they’ve had some success. Meanwhile, Obama himself gets several loose ends sewn together that could complicate his re-election, including the debt ceiling, spending cuts, and tax reform. And if he pulls it all off and wins re-election, he’s also secured full funding for Obamacare, killed off the Bush tax cuts for good, and probably cut defense spending enough to be re-allocated elsewhere in 2013.People saying the Democrats were big losers are right. On policy.But politically, Obama is a massive winner and if he wins re-election will also have some long term liberal policy victories greeting him January 1, 2013.

Liberals Force Choice Between Economic and National Security - Heritage Foundation - Put the security of the nation at risk or raise taxes. This is the sour “deal” liberal lawmakers are offering in exchange for insufficient spending cuts, according to reports of this weekend’s debt negotiations in Washington. The framework that Republicans and Democrats are close to approving would raise the debt limit by at least $2.1 trillion and get Obama and congressional Democrats past their target date: Election Day 2012. In return for this generous political cover, Democrats would agree to a modest $1 trillion in supposed cuts spread out over 10 years; $350 billion of those “upfront” savings come from gutting national security resources. A trillion dollars over 10 years is not sufficient to impress credit rating agencies, which have threatened to downgrade America’s credit status unless Congress enacts real measures to reform spending and lower the deficit. In fact, on Friday, Moody’s announced that neither the Boehner plan nor the Reid plan had sufficient cuts, saying: “Reductions of the magnitude now being proposed, if adopted, would likely lead Moody’s to adopt a negative outlook on the AAA rating.” The current plan does not improve upon either of those earlier plans.  In addition to the $1 trillion, the framework sets up a “special” congressional committee that would seek $1.4 trillion in “deficit reduction” by the end of 2011. Of course, for liberals, “deficit reduction” is synonymous with “higher taxes.”  Read more......

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