Stating the obvious

MANIFESTO

Bob Reich's latest post is aptly titled "The President’s Last Stand Is No Stand At All: Why the Tax Deal is an Abomination." Indeed, Reich points out the idiocy of a policy that

will cost $900 billion over the next two years — larger than the bailout of Wall Street, GM, and Chrysler put together, larger than the stimulus package, larger than anything that’s come out of Washington in years.

It makes a mockery of deficit reduction. Worse, the lion’s share of that $900 billion will go to the very rich. Families with incomes of over $1 million will reap an average of about $70,000, while middle-class families earning $50,000 a year will get an average of around $1,500. In addition, the deal just about eviscerates the estate tax — yanking the exemption up to $5 million per person and a maximum rate of 35 percent.

And for what?

Wealthy families won’t spend nearly as large a share of what they get out of this deal as will middle-class and working-class families, so it doesn’t do much to stimulate the economy.

The deal further concentrates income and wealth in America — when it’s already more concentrated than at any time in the last 80 years.

BO's plan is just to keep borrowing to support the wealthy, and the future be damned. This approach is so much like the Bush-era supply siders that it's mind boggling.

And Congressional liberals aren't happy—to which our enabling president gives the lame response,

"if [adhering to one's principles is] the standard by which we are measuring success or core principles, then, let’s face it, we will never get anything done. People will have the satisfaction of having a purist position and no victories for the American people. And we will be able to feel good about ourselves and sanctimonious about how pure our intentions are and how tough we are, and in the meantime, the American people are still seeing themselves not able to get health insurance because of pre-existing condition, or not being able to pay their bills because their unemployment insurance ran out."

Remember when BO ran on a platform of change? Certainly, one of the changes I anticipated in a BO administration was the notion of integrity over politics. If I'm any barometer, a number of liberals must be disappointed beyond words.