The President twice had all the negotiating chips on his side and just gave them away. Twice he could have let the Bush tax cuts expire and instead having the strong hand to play. He has allowed interminable procrastation on budgeting to occur as if that's another four year plan. The rational alternative to raising taxes is cutting spending and he refuses to do that. With a little effort he could work with Republicans to cut spending a 100 billion a year-maybe each of the next four years. Why not?
The President could make a list and so could the Republicans-then each side could protect 50% of their list and the other side could delete 50%. That's a compromise approach.
The President may want the Republican leaning Fed Chief Bernanke to continue to print money to fund government. The Fed makes billions and billions of zero interest loans to banks so banks can buy up the houses foreclosed on because of bank bungling at fire-sail prices and also to invest that cash in Wall Street so Wall Street can create jobs in China. Yeah- President Obama-go team!
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