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After the price to borrow goes up and the stock market goes down, and the U.S.'s prestige around the world is harmed forever, what will bother me most is how the wackjobs will explain how this all came to be.
I'm 100% positive that nutjobs from various walks of conservativedom will continue to tell themselves that the President refuses to put his offer into writing, but here it is. It's not the hundreds of pages legislation that's currently being hashed out between the leaders of the House and Senate, but it's where the President stands on the deficit issue.
I don't think anyone was under some illusion that the election of Barack Obama actually meant the end of racism in America. I'm pretty sure that the President knew it better than anyone. After all, he saw it every day, from the moment he announced his candidacy. To some degree, he saw it within his own party during the primaries. And he saw it in all ugliness during the general election. For half of this country, he was "That One". No matter how big and clear his victory was. No matter how smart he is. No matter how decent he is. No matter what a true patriot he is.
Oh, Republican leadership. I don't know who does your polling or who you go to for advice, but right now you're on the wrong side of the tide. You stood up for the uber-rich, only to find out that "job creators" maybe aren't as popular as they once were (you know, when some were actually creating jobs).
Have you heard the growing whispers about Michele Bachmann’s husband... the speculation that the candidate’s rabidly anti-gay hubby, Marcus, is a closeted gay man? If you haven't, you will! The unfounded rumors have taken on a life of their own, and are spreading like wildfire, becoming the source of jokes and gossip outside of the mainstream media.
A couple of weeks ago, Romney economic advisor Greg Mankiw came out in favor of the Bowles-Simpson formula for attacking the deficit, which includes revenue increases in the form of reducing tax expenditures. Here's what Mankiw said, with a link to a more lengthy piece he wrote last fall on the topic:
According to the latest Gallup poll, only 20% of Democrats want to solve the deficit problem completely or mostly from raising revenue. Republicans, naturally, are event less enthusiastic about using taxes only-- with just 3% thinking this is the way to go.
In case you're still staring at your computer screen, trying to figure out if you entered the wrong domain name into your browser, you haven't.
According to the New York Times, the President is pressing congressional leaders to consider a far-reaching debt-reduction plan that would force Democrats to accept major changes to Social Security and Medicare.