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On Tuesday, the Congressional Super Committee announced that it had failed to come to a deal to avoid automatic cuts in Entitlement and Defense spending as part of this summer's Debt Ceiling deal. Tuesday evening, President Obama took to television and blamed...you guessed it...Republicans! Yes it's the Republicans fault for not letting Democrats raise taxes!
It's like dealing with a spoiled child, my friends. They won't do anything unless they're allowed to raise taxes and pretend that the problem is lack of revenue. The Democrats want the borrow and spend game to continue so they can keep buying votes. They know for a fact that raising taxes 5% on "millionaires and billionaires" won't be but a drop in the bucket, as would raising taxes to 60% on those top 1% (which, by the way, the floor isn't $1 Million, it's actually just over $300k in annual income).
It's just another example of the tin ears of these Democrats...one has to ask "What part of CUT SPENDING was so difficult for you to understand??? The problem isn't revenue...you cannot raise taxes enough to cover the over $1.6 Trillion in deficits we have. The problem is we spend too much. Period.
But Obama wants to blame Democrats. Democrats had no offer except "raise taxes." Republicans offered "new revenue" solutions by repealing loopholes in exchange for lowering overall rates, a plan that historically works. So now Obama blames the GOP...it's all their fault for not allowing the Democrats to do more damage...life is just not fair. That's like complaining that the kid being bullied won't let the bully hit him...they won't compromise with the bully...the bully was willing to compromise and give the kid a juice box after he punched him after all!
Sorry, Mr. Obama, the blame for this is on the Democrats. The GOP should not have compromised and let you do damage in a bad economy by raising taxes on job creators. There is more than enough revenue. What we have is a spending problem. Now fix it or get out of the way.