On Obama lying to the American people at the height of the debt-limit negotiations with Republicans last summer…
Obama intentionally lied to the American people in a prime-time address, announcing the failure of negotiations to expand the debt limit last summer… the Obama lie was telling the American people the Republicans were demanding cuts to the budget, only – as a means of expanding the debt limit: “We’ll give you the debt limit increase, but you have to have some budget cuts.” Obama lied to the American people and said that was the intractable Republican position. When in fact, Boehner and Eric Cantor had offered tax increases in the $800 million range. Now to take you back, nine months ago – it was Obama who needed the deal… it’s Obama, whose job is spending money, it’s Obama who needs the debt limit increased so he can continue to buy votes, expand government, whatever his plan is. What Boehner and the boys decided to do was essentially call his bluff. He was setting up to run against a do-nothing Congress. They said, “Okay – here you go.” Obama rejected it, and then addressed the nation and lied – told the American people that the Republicans were intractable, inflexible – was their way or the highway. They wouldn’t give an inch. When in fact they had given Obama – this is the key – everything he wanted. And that’s what he couldn’t afford. The trick that they played on Obama was giving him everything he wanted.
On calls in the media for Republicans to compromise on tax cuts in the debt crisis.
This idea of compromise – why is it always pitched at the Republicans? … Tax increases, [entitlements]… why don’t we ever see the Democrats approached by the media and have it demanded that they compromise? By agreeing to some tax cuts. Why does that never happen? Why is the onus always on the Republicans to do this?
On the immediate consequences of the new debt deal…
Our country added $239 billion dollars in debt in a single day yesterday. $239 billion dollars in debt in a single day. May I put that in perspective for you? $239 billion dollars in debt in one day is about five times the real cuts, scheduled to occur, over the next ten years under the bipartisan debt deal. By way of comparison, we are supposed to get, as a result of the debt deal $900 billion in cuts. But they are spread out over ten years, meaning most of them are unlikely to ever happen since they are scheduled for the out years, and cannot be enforced on future congresses. But the regime was given $400 billion dollars in new borrowing authority for this week, and they ate up 60% of it in a single day… remember now: this was bipartisan. This was Boehner and McConnell and Krauthammer Online and the Kristol Standard and all and the Wall Street Journal, and they were all in on this. “Oh wow zowee what a great deal, this is the best we can do, why, golly we gotta do this. We gotta avoid default, we got to avoid losing the Triple A rating, we gotta do this deal, why, it’s real spending cuts!” That will never happen. More in debt in one day, than the spending cuts over ten years in the debt deal. It’s comical. It’s comical because it’s the same-old same-old. It’s the same old bag of you-know-what.
On the never-ending saga of the debt crisis.
This deal was supposed to be the salvation. This deal was supposed to buy us time. This deal was supposed to ward off Satan. And his sandwich. This deal was supposed to buy us some time, at least for Christmas. This deal was supposed to bring us a little peace. This deal was supposed to bring us a little compromise. And now here it is. When did Obama sign this stupid thing? Yesterday? Last night? So in one day – we have a story from Reuters – “Economists say the economy could face a further drag from the budget deficit cutting plan approved by Congress this week.” Wait a minute! I thought this bill was the salvation. Now they tell us, one day later, that the economy could face a further drag because we did this deal. And why? Because it’s a deficit cutter. And it’s not a deficit cutter.
On the very mixed bag which is the new debt ceiling deal…
There supposedly are no tax increases in this. Yet the CBO… is counting on the Bush tax cuts expiring. Next year the Bush tax cuts are set to expire. That’s going to be a tax increase without anybody having to vote for one. Now, it’s also possible that the Bush tax cuts will be extended… and I think it’s 50/50… if that happens, then what happens to the CBO score? The CBO score is thrown out the window. The CBO score is BS anyway but if the Bush tax cuts are extended, the CBO is going to score that as a major cut, which will have to be replaced. A cut in government revenue. If the Bush tax cuts are extended that’s less revenue than the government’s counting on, which means that the (Debt) Commission will have an automatic excuse to go in and raise taxes.
On the latest iteration of the debt ceiling negotiations…
Boehner 3.0 basically does this: Would pave the way for the debt limit to be raised, through the 2012 election, in two chunks. But it would mandate that the second increase of the debt ceiling could only occur after a balanced budget amendment passed both chambers of congress and went to the states for ratification. That’s the big difference in Boehner 3.0. Now before we get into the specifics of all of this, I want to say something to all of you conservatives out there. I want to tell you, how damn proud of you I am. Because you made this happen. The conservative intelligentsia, the conservative so-called “media”, inside the Beltway, would’ve accepted anything.
On Republicans undermining themselves in the debt-ceiling negotiations…
You know what I would do? Folks, it’s real simple… I’ve mentioned this before. Stop. Presenting. A plan. All we’re doing is compromising with ourselves. Just stop presenting the plans. Just sit around and say, “Well, we’ll wait for yours.” Say it to Obama, say it to Carney, whatever, but, we’re through!
On the latest version of the Boehner plan...
Boehner’s plan, basically is 1.1, 1.2 trillion dollars in cuts. No defense cuts. No new revenue, no tax increases. In exchange for raising the debt ceiling a trillion dollars. Each member of congress – well, two members of each leadership, will get to name three members to a congressional blue-ribbon panel to actually make the cuts. So it’d be a 12-member commission, six appointed by Democrats, six appointed by Republicans. They would report back, and, debt ceiling runs out in April, here we are all over again. Obama, if this thing survives, this is what will be set up for him to sign. No guarantee on that yet but that’s the only thing that’s on the table right now.
On the importance of House Speaker Boehner holding firm in debt-limit negotiations with Obama.
If Boehner holds firm, it’ll be Obama and his re-election team that gets choked up and starts crying, not Boehner. If he holds firm. Right now John Boehner is more than just the Speaker of the House and a negotiator in the debt ceiling deal. Right now, as far as Obama’s concerned, John Boehner is the life-line to Obama’s political future. Oh yeah. If Obama can get Boehner to cave – you look at it that way... and Obama’s out there saying, “If they don’t budge, there’s no deal." Fine! If there’s no deal, then we start cutting. The law of the land right now is the current debt ceiling. That’s the law of the land. If we don’t do anything and write a new law, guess who’s gonna be in violation of it if they don’t abide by it? Obama and the Democrats, not us. Right now, Obama looks at Boehner and sees his route to re-election. By getting Boehner to cave. That’s a lot of pressure to be under. For Boehner. But that’s the way Obama has set this up.
Mark Steyn is guest-hosting for Rush today.
On the vote in Congress against raising the debt ceiling, in which prominent liberals joined Republicans and voted no.
We're winning this argument. We've won it with the Republican party – there were no defections on this issue. Republicans understand that raising the debt ceiling unconditionally is a disaster... Now obviously Nancy Pelosi, Steny Hoyer, and Debbie Wasserman-Schultz – they don't care about the debt ceiling one way or another... but they understand that for the moment it's politically problematic for them to be seen to be approving more out-of-control spending.