Durbin Declares Obama Deficit Proposal Left Edge of Debate
It seems President Obama has succeed in shifting the deficit debate dramatically to the right. The right-of-center plan Obama laid out that relies on two parts spending cuts for every one part new tax revenue has already been declared the left extreme in the debate by top senate Democrats. From ABC News:
Senator Dick Durbin, D-Ill., says the bi-partisan group of senators working to find a way to reduce the deficit — the so-called “Gang of Six” — is near agreement on a plan that will chart a middle ground between the House Republican budget and the plan outlined last week by President Obama.
Every liberal that was momentarily cheered up by Obama’s deficit speech should have known better, known that by ceding so much rhetorical and policy ground to conservatives, his speech was going to produce this result.
If any final “grand bargain” is as Durbin wants, in between the center-right Obama proposal and the radical rightwing Paul Ryan budget, regular Americas are in for a world of pain. The rich, on the other hand, should have little to worry about.
At this point, it is clear that the absolute best we can possibly hope for is that gridlock results in nothing happening.