By William K. Black
On Friday, December 21, 2012, President Obama announced:
“‘As of today I am still ready and willing to get a comprehensive package done,’ Obama said, specifically urging lawmakers to craft a deal that would protect middle-class Americans from a tax hike set to be implemented if no deal is met.
Obama said he spoke with GOP House Speaker John Boehner and Senate Majority Leader Harry Reid (D-Nev.) Friday, asking the congressional leaders to come up with a smaller fiscal package in the next 10 days.
‘Now is not the time for more self-inflicted wounds, certainly not coming from Washington,’ Obama said.”
By Michael Hoexter
In the “fiscal cliff” negotiations and the subsequent debt limit talks between Obama and the Republican leadership of the House of Representatives, it appears that there will be no “good guys” because the talks and policy framework within which they are operating are at odds with the welfare of the American people. Set up by a series of interactions over the last four years between Obama and his nominal opponents in the Republican Party, the framework of the negotiations ignores the way that the US government finances itself as well as the only known economic policy orientation which will allow our economy to thrive; the proposed policies and negotiations have been to date economically illiterate. The biggest losers in these talks if they “succeed” according to the self-evaluations of the Republican and Democratic leaderships will be the American people and politically the Democrats who go along with a framework that demands cuts in federal budget deficits at all costs. Continue reading