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Charles Krauthammer's op-ed column on Obama's agenda in his second term.
WASHINGTON--The rout was complete, the retreat disorderly. President Obama got his tax hikes--naked of spending cuts--passed by the ostensibly Republican House of Representatives. After which, you might expect him to pivot to his self-proclaimed "principle" of fiscal "balance" by taking the lead on reducing spending. "Why," asked The Washington Post on the eve of the final "fiscal-cliff" agreement, "is the nation's leader not embracing and then explaining the balanced reforms the nation needs?"
Because he has no interest in them. He's a visionary, not an accountant. Sure, he'll pretend to care about deficits, especially while running for re-election. But now that he's past the post, he's free
As he showed in his two speeches this week. After perfunctory nods to debt and spending reduction, he waxed enthusiastic about continued "investments"--i.e., spending--on education, research, roads and bridges, green energy, etc.
Having promised more government, he then promised more taxes--on "millionaires" and "companies with a lot of lobbyists," of course. It was a bold affirmation of pre-Clintonian
Why not? He had just won Round 1: raising rates. Round 2 is
To paraphrase Churchill on the British Empire, Barack Obama did not become president of the United States to preside over the liquidation of the welfare state. On the contrary, he is dedicated to its expansion. He's already created the largest new entitlement in half a century (Obamacare). And he has increased federal spending to an astronomical 24.4 percent of GDP (the postwar norm is about 20 percent), a level not seen since World War II.
But this level of spending requires a significantly higher level of taxation. Hence his hardball fiscal-cliff strategy of issuing an ultimatum to Republicans to raise tax rates--or be blamed for a massive across-the-board tax increase and a subsequent recession.
I'll get you the money by eliminating deductions, offered Boehner. No, sir, replied the president. Rates it must be.