Class Warfare Blog

December 1, 2011

Paint, Paint, Paint, . . . , Oops, Corner!

Filed under: Economics,Politics — Steve Ruis @ 1:22 pm
Tags: , ,

Republicans have loudly proclaimed two guiding principles of late: 1) we will never raise taxes on the American people and 2) the Defense Budget should not be cut (basically ever). Unfortunately they, themselves, without being tricked into anything have created a situation in which, if they do nothing, taxes will go up and the defense spending will be cut. And they planned the whole thing!

The tax increase will come automatically when the Bush tax cuts, passed by a Republican dominated Congress, expire at the end of 2012. They were scheduled to expire last December but Republicans got them extended for two more years. So, without having to cut a single deal, Republicans will have orchestrated the largest single tax increase in the history of the federal government!

And, a deal they themselves brokered, in place of a deal to cut $4 trillion dollars from the federal budget over the next decade (because it had 15% of the savings in the form of “new revenue”) the Republicans created legislation to create the now infamous Supercommittee of Congress, which if it failed to cut 1.2 trillion dollars from the next decade of federal budgets would trigger 1.2 trillion dollars of cuts, half of which are from the defense budget. It failed.

Republicans whined that President Obama didn’t play a big enough role in the Supercommittee to get a deal cut. Why the president would inject himself into the business of a congressional committee regarding the single most important job the Congress has (paying the country’s bills), is beyond me. The only thing I can imagine justifying the whining is that they had just discovered the corner they themselves had painted us all into.

Now that falling off the cliff is on the Republican’s calendar, they might do something desperate, like negotiate in good faith.

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