Why do people think Obama wants to avoid going over the fiscal cliff? There is no real evidence that he does. He’s not negotiating, he’s out campaigning.
Geithner offered a deal to Republicans on Obama’s behalf that they can’t possibly accept. It’s summarized at the end of this article. The plan doesn’t cut any spending, it increases spending and includes a new stimulus.
We’ve been here before and Obama has never shown any signs of wanting to cut any spending. He only wants to increase taxes. He has never had a budget but he has run up trillion dollar plus deficits every year he has been in office. His “balanced” approach is unbalanced.
On July 13, 2011 House Speaker John Boehner, R-Ohio complained about President Obama and White House officials for their lack of resolve in negotiations. “Dealing with them the last couple months has been like dealing with Jell-o,” Boehner said. “Some days it’s firmer than others. Sometimes it’s like they’ve left it out over night.”
Boehner attempted to get Obama to talk about entitlement reform. “It was Jell-o; it was damn near liquid,” Boehner said.
“By Saturday, they’d spent the previous day and a half just going backwards” on reforming entitlement programs such as Social Security, Medicare and Medicaid.
“The only thing they’ve been firm on is these damn tax increases,” the Speaker said.
By August there was a deal to cut $1.2 trillion over ten years but where these cuts would be made had to be agreed upon by November 23rd or the cuts would be made automatically across the board.
This deal, known as sequestration, was a bad deal. Panetta and Obama administration officials have repeatedly said the looming ‘sequester’ defense cuts would “hollow out” our armed forces and devastate our national security.
The idea for sequester was President Obama’s. It was in exchange for raising the debt ceiling by $2.1 trillion. That information comes from Bob Woodward via Politico.
Read more at Independent Sentinel.