Pres. Obama “Delayer-in-Chief”
In 2008, when asked about meeting with foreign dictators, then-candidate Barack Obama said:
“I would meet without preconditions.”
Flash forward to today. President Obama once again pre-empted his closed-door debt limit negotiations by laying out some preconditions. He came out and – predictably – attacked Republicans and blamed them for the current situation. What he fails to acknowledge is that it is his insistence on increasing taxes to solve our spending problem that is the real problem. Raising taxes on the people who are going to create jobs is not the way to spur the economy. During the press conference, the President had this to say about the issue:
“So when you hear folks saying, well, you know, the President shouldn’t want, you know, massive job-killing tax increases when the economy is this weak, nobody is looking to raise taxes right now. We’re talking about potentially 2013 and the out years.”
You see what he did there? He wants to raise taxes, but he knows that will be politically disastrous (because, you know, not only will the tax hikes decimate already dismal job growth, but those “wealthiest” Americans are the largest funders of the President’s campaign). So what he’s doing is raising taxes after he presumably gets re-elected.
We’ve seen this before. Remember Obamacare?
The gimmicky feel-good stuff was put into place immediately, while the job-crippling, budget-busting provisions don’t take effect until after President Obama’s re-election effort. He’s looking to score political points now, and let the damaging effects of these policies take effect after his re-election bid, when he doesn’t have to worry about his numbers. At the very least, in the event he doesn’t get re-elected, all these policies will blow up in the next administration and make them look bad.
The fact that the President implicitly acknowledges these tax hikes will destroy jobs in a weak economy should be proof enough that they should not be included in a deal to raise the debt limit. Because as we’ve seen in recent months, it does not look like the economy is poised for a rapid turnaround, and if these tax hike triggers are in place, we could lose any recovery that has been made up until this point.