After winning two Presidential elections campaigning on raising taxes on those making over $250,000 a year, Barack Obama has once again caved to Republican opposition. This time in exchange for a deal to kick the can down the road:
The White House and Senate leaders reached a bipartisan compromise on the fiscal cliff that would allow tax rates to rise on income over $450,000 and delay steep automatic federal spending cuts for two months.
Two months? He sold out his chief campaign promise for a two month delay? How could someone this bad at negotiating get such great deals in the Chicago real estate market?
The deal plays perfectly into Republican hands. Senator Graham admitted on the Senate floor that he considered this deal “Round 1″ and the Debt Ceiling agreement “Round 2.” In other words, get ready for another shakedown to protect the rich at the expense of everyone else. And if it was not clear before, Obama has every intention of screwing those relying on social programs – in fact, he already did so by moving the needle from 250,000 to 450,000. That is a lot of lost revenue to make up for in cuts.
While the Senate passed the bill 89-8 the House adjourned meaning America went over the “fiscal cliff.” Yet, we’re still here. America continues to exist even after falling off this “cliff.” But how? Is this real life?
The House will reconvene at noon today and hopefully kill this monstrosity. It is past time for the people themselves to force action in Congress because apparently even if they elect politicians (twice) who run explicitly on doing something – like raising taxes on those with incomes over $250,000 – that is not enough. Kill the bill, initiate the cuts, and let’s see if the American people can awaken from their slumber to pressure a real solution.