Senate Minority Leader Mitch McConnell hit the nail on the head the other day. He said that there is no chance of reaching a meaningful deal on reducing spending and getting entitlements under control so long as President Obama holds the office. Thus, the negotiations between House Republicans and the president regarding raising the U.S. debt ceiling stand on the brink of breakdown.
The president’s position is staggeringly cynical. While offering no specifics regarding cutting federal spending, he is quite specific in his attacks on corporate jet owners, big oil companies and those making more than $250,000 per year.
This is pure sophistry.
There is not enough incremental tax revenue to be had from jet owners and oil companies and the most successful Americans to make even a rounding error difference in the federal deficit and the president knows it.
The problem is spending. If President Obama really wanted to solve the problem, he would right now be prioritizing spending to fit within available revenues the way CEOs and business owners all across the country have done.
But the president does not want to solve the problem, he wants to get re-elected and he needs his far left base to do it.
Thus, the U.S. stands on the brink of an embarrassing credit downgrade and a severe crisis regarding paying its bills. All of which could be avoided if we had a true executive running the executive branch.
Mitch McConnell is right.