Fiscal Cliff Deal Not Reached, Leaders Agree To Continue Talks
Friday, December 28, 2012
There should be tax HIKES on corporations and the rich. There should be massive cuts to the military. Banks should be threatened with nationalization unless they begin lending to small businesses. There have been more than 3.5 million home foreclosures but there are 11 million more in the pipeline — There must be principal write-downs.
Democratic politicians should be beating this drum, loudly, constantly, and pushing the People’s Budget instead of working off of a set of corporate lobbyists’ plans.
Why aren’t Obama, Pelosi, Reid and Democrats talking about the Progressive Caucus’s budget and plan to balance the budget (reduces the deficit by $5.1 trillion)? It beats Obama’s AND Republicans’ plans.
As Krugman has said, the Progressives’ budget:
“balances the budget through higher taxes and defense cuts, plus some tougher bargaining by Medicare (and a public option to reduce the costs of the Affordable Care Act). The proposed tax hikes would fall on higher incomes, raising the cap on payroll taxes (takes care of Social Security’s solvency forever)... and unlike the Ryan plan, it actually makes sense.”But Obama already is broadcasting he's willing to put safety net and entitlement programs on the table for cuts. He takes solutions that work for the People, the vast majority of Americans, off the table. Obama kneecaps and handicaps the Democratic voters who put him and Democrats into power before negotiations even begin.
Now, as in 2009 when he won a decisive victory and mandate of, by and for the People, Obama has stalled the momentum that the election's decisive win gave him in order to satisfy the corporate and rich class. Remember when he was going to take to the road after the election to pressure vulnerable politicians in their home districts, but then stayed home?
Obama needs to let the Bush tax cuts expire.
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