President Obama is not stopping with his reversal on Social Security cutbacks. Now it’s’ his latest effort to compromise his long-standing promise to reduce the federal debt. The new plan will now increase spending in 2015 by $56 billion.
It is an obvious move to increase Democratic chances in the November mid-term elections.
Now apparently abandoning the “grand bargain” he made with Republicans to appease them last year, the Washington Post reports his move is an an apparent effort to bolster Democrats in this fall's midterm elections. He will “open the lid on spiraling retirement spending by reducing cost-of-living increases for Social Security recipients in return for an increase in taxes on the richest Americans.”
Yet the Social Security issue has been shelved also.
The 2015 budgets provides increases in spending to supposedly aid the middle class, including funding for early-childhood education initiatives and job training.
An angry statement made by House Majority Leader John Boehner said, "This reaffirms what has become all too apparent: the president has no interest in doing anything, even modest, to address our looming debt crisis. The one and only idea the president has to offer is even more job-destroying tax hikes, and that nonstarter won't do anything to save the entitlement programs that are critical to so many Americans," said his spokesman Brenden Buck.
The White House pointed the finger at the GOP for Obama's shift, The New York Times reports.
White House deputy press secretary Josh Earnest shot back, "There was a point in time when there was a little bit more optimism about the willingness of Republicans to budge on closing some tax loopholes. But over the course of the last year, they've refused to do that."
It appears the president has dropped the facade of cutting the budget and chosen to throw money at an election that appears to be developing into Republican romp.
Even Buck had to admit, "With three years left in office, it seems the president is already throwing in the towel."
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