The President said his proposal was extraordinarily fair and justified his position, in part, by the heat from his fellow Democrats and interest groups, protesting the proposed cuts in entitlement programs. President Obama testily asked if the Republicans would agree to anything. Speaker Boehner claimed the President moved the goal posts by asking for $400-billion more revenue late in the discussions, what Republicans say is a tax increase and is simply not negotiable.
The President demanded that the leaders of the House and Senate meet with him at the White House this morning. He expects them to advise how they intend to raise the debt ceiling.
While we definitely need to reduce our escalating debt, I don't believe it should be done solely by cutting expenditures. Reasonable increases in revenue, either by reducing or eliminating tax deductions or increasing certain taxes, should be part of the strategy. The Republican House is obstructing such a balanced resolution to adhere to their pledge of no new taxes.
Their position reminds me of the aphorism:
Don't let your principles keep you from doing the right thing.Unfortunately, I think the principle of lower taxes has become a rigid ideology, and I'm afraid the country is going to suffer.
I expressed my concerns via a couple of Twitter posts earlier today.
Here's that last paragraph from President Lincoln's first inaugural address:
We are not enemies, but friends. We must not be enemies. Though passion may have strained it must not break our bonds of affection. The mystic chords of memory, stretching from every battlefield and patriot grave to every living heart and hearthstone all over this broad land, will yet swell the chorus of the Union, when again touched, as surely they will be, by the better angels of our nature.If I were in Washington today, I would go by the Lincoln Memorial to see if there are any tears in his eyes.