Obama “Proposal”: More Stimulus Spending, Lots of Taxes — And Cuts to Be Determined in the Future Sometime
House Republicans said on Thursday that Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, an immediate new round of stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits.
The proposal, loaded with Democratic priorities and short on detailed spending cuts, was likely to meet strong Republican resistance. In exchange for locking in the $1.6 trillion in added revenues, President Obama embraced $400 billion in savings from Medicare and other entitlements, to be worked out next year, with no guarantees.
I agree with Krauthammer. It’s an insult. Quite a deliberate one. Don’t offer a counterproposal. Walk away.
Tell the American people that, after adding $5 trillion in spending we couldn’t afford, Obama wants to spend more. It’s impossible to negotiate with someone who opens with a joke proposal.
No counter proposal to a joke. Walk away.