Krugman: That Old Sick Feeling [View all]

[cthulu2016]

That Old Sick Feeling
Here we go again — or so I find myself fearing.

Obama’s fiscal deal offer was already distressing — cuts to Social Security, and a big concession, it turns out, on taxation of dividends, retaining most of the Bush cut (with the benefits flowing overwhelmingly to the top 1 percent). It wasn’t clear that the deal would have gotten nearly enough in return.

But sure enough, it looks as if Republicans have taken the offer as a sign of weakness, as a starting point from which they can bargain Obama down. Oh, and they’re not giving up at all on the idea of using the debt ceiling for further blackmail.

In other words, all of a sudden it’s feeling a lot like 2011 again, with the president negotiating with himself while the other side enjoys the process.

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And if Obama does try to make more concessions, Democrats in Congress need to let him know that they’re not behind him, that he cannot count on their votes.

http://krugman.blogs.nytimes.com/2012/12/19/that-old-sick-feeling/

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