Following last night’s passage of Obama’s fiscal cliff deal, this morning on FOX News, Jonah Goldberg, editor at large for the National Revue, said Speaker Boehner (R-Ohio) may hold his position but is weaker for all of his failures in dealing with Obama. FOX’s Jon Scott detailed some features of the bill;
- Tax rates for those earning $400k+ goes from 35% to 39.6%.
- $4 trillion added to Debt over next decade.
- Payroll tax holiday goes away.
- Sequestration delayed two months.
- $620 billion increased spending this year in addition to the Senate’s already passed Continuing Resolutions in October keeping the deficit over a trillion dollars for the fourth year in a row.
- And $12 billion in spending cuts
Darrell Issa (R-Cal.) said, “Republicans stand for smaller, fiscally responsible government and there was none of that in last night’s deal. They gave in and just kicked the can down the road.”
Mr. Goldberg said Obama did something he didn’t think was possible, and that was to make VP Joe Biden look like the adult in the room. Biden spent a great deal of time helping to craft a deal with Senate Minority Leader McConnell while the president spent his time setting up Republicans as the fall guys. Goldberg believes that will hurt Obama’s image with the people. Rush Limbaugh believes it won’t matter at all to “low-information voters.”
Biggest losers according to Mr. Goldberg;
- Boehner gets rolled by Obama again and comes off weaker if he remains as Speaker.
- The American people get huge tax increases with ObamaCare, ending of Payroll tax holiday, and coming job losses.
- Job creators take big hit which economists say will result in over a million jobs to be lost this year.
Obama announced that after this he will not accept any argument by Congress about the Debt Ceiling which he plans to see raised in the near future.