The fact is, we didn’t need a rating agency to tell us that we need a balanced, long-term approach to deficit reduction. That was true last week. That was true last year. That was true the day I took office.
Ok – so long term….answer to that? Extending the payroll tax cut that funds social security that no one wants to touch and extending unemployment benefits that will keep unemployment in the 9%s.
In fact, if Congress fails to extend the payroll tax cut and the unemployment insurance benefits that I’ve called for, it could mean 1 million fewer jobs and half a percent less growth. This is something we can do immediately, something we can do as soon as Congress gets back.
This is LONG term thinking?
How about this on the new Superbipartisan committee:
Last week, we reached an agreement that will make historic cuts to defense and domestic spending.
Oh, wait, that’s not the part, here’s what he said on the committee:
I realize that after what we just went through, there’s some skepticism that Republicans and Democrats on the so-called super committee, this joint committee that’s been set up, will be able to reach a compromise, but my hope is that Friday’s news will give us a renewed sense of urgency.
These 2 quotes came in order. From what I understand the agreement reached on the debt ceiling did NOT make historic cuts to defense and domestic spending. So is he saying the joint committee is going to do that? If so, then once again we’ll have Obama insisting on X when his committee says Y and it will be the committee who is stubborn.
See how he does this. I think it’s my parts in bold that leave you believing that it was not HIS side that prolonged the debate or used August 2nd as a bargaining chip.
And we didn’t need a rating agency to tell us that the gridlock in Washington over the last several months has not been constructive, to say the least. We knew from the outset that a prolonged debate over the debt ceiling — a debate where the threat of default was used as a bargaining chip — could do enormous damage to our economy and the world’s. That threat, coming after a string of economic disruptions in Europe, Japan and the Middle East, has now roiled the markets and dampened consumer confidence and slowed the pace of recovery.
Yet it was. He could have backed down at any point, so why is it just the right that used a bargaining chip? It wasn’t.
Obama did get something right in his speech. I’m certain it was a slip but it’s as real as it gets:
I know we’re going through a tough time right now. We’ve been going through a tough time for the last two and a half years.
And what happened two and half years ago…….Oh yeah that speechmaker found himself in office.
Dana Milbank gives a good vetting from the Left. (You may ask, “Why do I say this is from the left?”? Because Dana wants him to DO something. The right figures the less he does, the better off we can stand the next year and a half.)
And William McGurn reminds his readers how much Jimmy Carter was loved during his time and why the recent comparisons are apropos.