Wednesday, March 13, 2013

Obama's Losing Streak

Even when he claims to have won, he really lost.
At the time, Obama claimed victory, slapping new taxes on the rich while protecting George W. Bush’s cuts for everyone else. In retrospect, it looks more like a missed opportunity than a political or policy triumph.

Instead, it now seems likely that $600 billion in tax increases is all the new revenue Obama gets. That’s a far cry from the $1.6 trillion he wants, or even the $1 trillion-plus many Republicans were discussing in previous grand bargain talks.
Obama thought he would be able to stare down Republicans over the sequester, and get them to double the size of his tax increase to avoid heavy defense cuts. He was wrong. Once Republicans swallowed the $600 billion in hikes, they made plain they were done raising taxes for this Congress. And they really are done, Republicans say.


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