Cliff Hanger: The President’s Unnecessary and Unwise Concessions

robertreich.org — Why is the President back to making premature and unnecessary concessions to Republicans? Two central issues in the 2012 presidential election were whether the Bush tax cuts should be ended for people earning over $250,000, and whether Social Security and Medicare should be protected from future budget cuts. The President said yes to both. Republicans said no. Obama won. It defies logic and fairness to give more tax cuts to the wealthy while cutting benefits for the near-poor. Hands off Social Security. If the Republicans are willing to raise tax rates on high earners but demand more spending cuts in return, the President should offer larger cuts in defense spending and corporate welfare.

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