Obama admits he was wrong on taxes (sort of)
From “change” and “hope” to “big problem” and “it’s going to get worse.” That’s the change we can believe in. On today’s Meet the Pressed, Obama moaned and groaned about the economy, saying it’s going to get worse before it gets better. It sure doesn’t sound like he has much confidence in his own big-spending plans to turn things around. Instead of offering hope like he did on the campaign trail, Obama channeled Jimmy Carter’s malaise. Here’s why: Obama doesn’t really have any specific hope to offer. Sure, when he’s on the stump with his teleprompter and adoring crowds, hope is a great catchphrase that makes his followers tingle with excitement. But when he’s president-elect and faced with real, serious problems, problems that are more serious than whether he gets elected, Obama comes up empty. Reality is starting to set in for our little Obambi.
Obama also slammed the Bush administration for not moving more quickly on the economy. This is just a preview of how, during the first 6-12 months in office, the Obama team will blame everything that goes wrong on their predecessors. But where is Obama? How is he moving? His own party is chastising him for not being more assertive and he blames Bush for not being assertive? As I recall, it was Bush who came out panting and shaking, warning that if we didn’t pass a $700 billion bailout bill in 48 hours, “this sucker could go down.” It was the Bush White House that pulled together a Citigroup bailout over the period of one weekend.
In moves that will surely rankle his extremist base, Obama signalled that tax cuts for the wealthy and a 16-month deadline for Iraq troop withdrawals may not be in the offing. Of course, Obama has been shifting on Iraq for some time.
On taxes, Obama seems to be thinking out loud: “My economic team right now is examining — do we repeal that through legislation? Do we let it lapse so that, when the Bush tax cuts expire, they’re not renewed when it comes to wealthiest Americans?” He just can’t decide the best way to sneak the tax hike in during a recession because he knows it’s unpopular.
But remember when raising taxes on the “wealthiest Americans” was a cornerstone of Obama’s economic strategy, the only way to get things going again “from the ground up“? Obama indirectly admits that raising taxes is bad for the economy by dithering, and, as such, admits that his tax-raising idea is wrong.