February 24, 2013
TAKE THE SEQUESTER CUTS FIRST...:
Obama's sequester deal-changer (Bob Woodward, 2/22/13,washpost.com)
...and after they're made offer a deal for more cuts and some (tax credit and exemption removing) revenue boosts. Posted by Orrin Judd at February 24, 2013 11:19 AMWhy does this matter?First, months of White House dissembling further eroded any semblance of trust between Obama and congressional Republicans. (The Republicans are by no means blameless and have had their own episodes of denial and bald-faced message management.)Second, Lew testified during his confirmation hearing that the Republicans would not go along with new revenue in the portion of the deficit-reduction plan that became the sequester. Reinforcing Lew's point, a senior White House official said Friday, "The sequester was an option we were forced to take because the Republicans would not do tax increases."In fact, the final deal reached between Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) in 2011 included an agreement that there would be no tax increases in the sequester in exchange for what the president was insisting on: an agreement that the nation's debt ceiling would be increased for 18 months, so Obama would not have to go through another such negotiation in 2012, when he was running for reelection.So when the president asks that a substitute for the sequester include not just spending cuts but also new revenue, he is moving the goal posts. His call for a balanced approach is reasonable, and he makes a strong case that those in the top income brackets could and should pay more. But that was not the deal he made.