As a Debt Battle Looms, Some See No Option but to Raise Taxes

[alp227]

President Obama and Republican leaders in Congress made history of sorts last year when they agreed to a 10-year plan to reduce annual deficits with spending cuts and no tax increases. Mr. Obama vows not to let it happen again.

Both he and Speaker John A. Boehner put down their respective markers this week, suggesting a potential replay of their damaging showdown over the debt ceiling last summer. On Tuesday, the speaker reiterated what has become known as the Boehner Rule: House Republicans will not increase the debt ceiling again without spending cuts of a greater amount. Mr. Obama, on Wednesday, told him Congress must pass a “clean” debt-limit increase to cover the nation’s obligations; there will be no more deficit deals, he said, without higher tax revenues from the wealthiest Americans.

While the Republicans largely prevailed last year, this time the Obama administration believes it has the greater leverage. The pain of the reductions is being felt as House Republicans advance the annual spending bills; already they have proposed to raise the spending caps for the military, and they are squabbling over domestic programs.

“It’s not reasonable or right for there to be another discussion of a spending-only package” for reducing deficits, said Jacob J. Lew, the White House chief of staff and former budget director. “When you look at how we got into the hole we’re in, it’s very clear that tax cuts for the wealthy were part of contributing to the deficits we’re now trying to close.”

full: http://www.nytimes.com/2012/05/19/us/politics/obama-and-gop-stake-out-positions-in-deficit-battle.html

[bluestateguy]

1. What a misleading and meaningless article

A bunch of former politicians and former bureaucrats say we need to raise tax revenues. Whoop de do. A lot of good that does now. Do they get a roll call vote in Congress?

I love how Washington establishmentarians suddenly seem to develop such courage and statesmanship as soon as they leave office and are no longer of any use to anyone.

Wake me up when a currently office holding Republican elected official says we need tax increases. Then it will actually matter.

[Proud Liberal Dem]

2. +1000

Last edited Sat May 19, 2012, 09:25 AM - Edit history (2)

I feel exactly the same way. I can't stand "Johnny(or Jane)-come-latelys, especially when they have zero power to actually do anything but pen useless articles that nobody in the modern day GOP is going to listen to.

IMHO Colin Powell is the most despicable of these types of people, particularly when he could have saved actual lives if he had stood up to the Bush (mis-)administration over Iraq. I was initially convinced that he would talk some sense into Bush and prevent him from rushing into Iraq back in 2002-2003. Instead, he sold himself out to support something he apparently knew was false (or, at best, way overblown). IMHO history will similarly not be kind to Republicans whom decided to put party loyalty over the best interests of the people in this country.