House Republicans, led by Speaker Boehner, have put revenue on the discussion table, and in return, have asked the President and Congressional Democrats to find spending cuts and reforms to tackle our $16 trillion debt – an essential component of a so-called ‘balanced approach.’ So far, Democrats have refused to offer anything remotely constructive.
Democrats Refuse To Consider Address Biggest Drivers Of The Debt. “Congressional Democrats are starting to draw a much tougher line on entitlements in the increasingly messy fiscal cliff talks…” (Manu Raju, “Democrats Talk Tough On Entitlements in Fiscal Cliff Debate,” Politico, 11/27/12)
Their resistance to addressing the biggest drivers of our debt through a ‘balanced approach’ was panned by the editorial boards of both The Washington Post & USA Today this morning:
WaPo Editorial: “There’s No Way To Achieve Balance Without Slowing The Rate Of Increase Of Those Programs.” “Elections do have consequences, and Mr. Obama ran on a clear platform of increasing taxes on the wealthy. But he was clear on something else, too: Deficit reduction must be “balanced,” including spending cuts as well as tax increases. Since 60 percent of the federal budget goes to entitlement programs such as Medicare, Medicaid and Social Security, there’s no way to achieve balance without slowing the rate of increase of those programs.” (Editorial, “Mr. Obama’s Time To Lead On Entitlements,” The Washington Post, 11/28/12)
Deficit Reduction Through Revenue Only Is ‘Not Enough.’ “Four years later, has the moment arrived? Since his reelection, Mr. Obama has fueled a campaign-style effort to pressure Republicans to give ground on taxes. That’s fine, but it won’t be enough. At some point, he has to prepare the American people — and his own supporters most of all — for the “hard decisions” required to put the country on a sound financial footing.” (Editorial, “Mr. Obama’s Time To Lead On Entitlements,” The Washington Post, 11/28/12)
USA Today Accuses Leader Harry Reid Is Fudging Facts To Keep Spending Reforms Off Negotiation Table. “Democrats, of course, have a political interest in fudging the issue to keep Social Security out of negotiations over the year-end ‘fiscal cliff’ of abrupt tax hikes and spending cuts. ‘I am not going to be part of having Social Security as part of these talks relating to this deficit,’ Senate Majority Leader Harry Reid, D-Nev., told reporters this month.” (Editorial, “Editorial: Social Security Adds To Deficits,” USA Today, 11/28/12)