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Mon Dec 3, 2012, 07:59 PM

Obama should channel FDR in fiscal cliff battle with Corporate Lobbyists

As has been reported in LBN:
(Boehner Counters Obama Budget Offer With Fewer Revenues, Large Entitlement Cuts) the GOP Corp Lobbyists have made a counter offer which offers fewer revenue boosts and large cuts to entitlments. David Woolner, Next New Deal, says in this battle, Obama should look to FDR for guidance (and inspiration):

Obama needs to channel FDR on the “fiscal cliff”

In his remarks on the so-called “fiscal cliff,” and in numerous campaign speeches, President Obama has repeatedly remarked that “we can’t just cut our way to prosperity,” and that “if we’re serious about reducing the deficit, we have to combine spending cuts with revenue. And that means asking the wealthiest Americans to pay a little more in taxes.” The president has also said that he is “not wedded to every detail” of his current plan to reduce the deficit and that he is open to compromise. But he also has made it plain, as he did in his recent remarks at the White House, that he will refuse to accept any approach that isn’t balanced; that he is “not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me making over $250,000 aren’t asked to pay a dime more in taxes.”

For the millions of Americans who remain out of work, or are struggling with hourly wages that when adjusted for inflation stand where they were in 1978, this is welcome news. But the president’s focus on taxes and the deficit is only part of the story. What the country really needs, according to most economists, is more stimulus, for the best way to reduce the deficit is to expand the economy, which would of course result in more government revenue.

The president has certainly made reference to this, and he has included a modest $50 billion in stimulus spending in his recent budget proposal to Congress, but for the most part the public discourse on how to avoid the “fiscal cliff” and fix our economy has been centered not on jobs or the vast structural inequality that now separates the top 1-2 percent from the rest of us, but on the deficit. This is unfortunate, for it means, in essence, that the country’s economic agenda is still very much in the hands of the conservative right; that we are still focused not on the cause of our economic woes—a collapsed economy brought on by the worst financial crisis since the Great Depression—but on the by-product: the vast fall-off in federal, state, and local revenue that naturally came about as a result of this collapse.

A far better exercise would be to move away from the right’s obsession with the deficit and open up a conversation with the American people about a far more critical issue facing the nation: the ever-widening gulf between the rich and the rest of us and the very real consequences that this disparity in income has had on our economy and indeed on the very nature of our democrac

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Reply Obama should channel FDR in fiscal cliff battle with Corporate Lobbyists (Original post)
Bill USA Dec 2012 OP
limpyhobbler Dec 2012 #1

Response to Bill USA (Original post)

Mon Dec 3, 2012, 10:27 PM

1. He could start pushing for a 1% financial transaction tax.

I'm not sure if that has been something the President has considered or not. But there have been a few Senators to propose smaller versions of it, calling it a speculation tax. This would really change the revenue picture.

If nothing else it will make smoke shoot out of Boehners ears.

Not sure if the Pres can do this kind of thing or not.

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