Newslinks for Thursday June 30, 2011Posted on 06/30/2011
6:00pm Videos on Cut-Cap-Balance:
- Rep. Jim Jordan: With debt-to-GDP ratios similar to Greece, the only thing saving us right now is we're America, the biggest kid on the block, a reality that will soon give way to mathematics
- Rep. Joe Walsh: Strap yourself in, buckle up, this is going to be rough: but historic moments like this require historic decisions and action
- Sen. Jim DeMint: No one can bail out America, Obama's not serious, we're only surviving because we can print money - it's time for this bill
5:30pm The Republican: Romney, Bachmann, and Perry are Larry Sabato's three top-tier 2012 contenders
- The second tier: Pawlenty, Cain, Huntsman
- The third tier: Ron Paul, Newt Gingrich, Rick Santorum, Gary Johnson, Buddy Roemer
4:15pm The Republican: Get ready for Rubio to rumble! Marco previews a Senate speech in which he'll take aim at Obama, a "failed President" who behaves more like a "left-wing strongman" with none of the "magic" so many promised
3:45pm The Republican: Rick Perry takes on California
- Obama to those making $250,000: Time to start paying more taxes on those $5 million jets you can't afford - WSJ breaks down just how much it costs to own a private jet
- Gov. Scott Walker on signing Wisconsin's collective bargaining law (or the "anti-union law" as CNN calls it): "This is the first step in cutting up the credit cards and paying the bills"
- New Dan Mitchell video on why converting Medicaid into block grants makes good fiscal and policy sense
Geithner attacks GOP debt ceiling 'solution' as “radical", "deeply irresponsible,” “futile,”, “unwise", "unworkable", "unacceptably risky", and "unfair to the American people" - WSJ
Two Republican Senators brush aside Geithner's warnings on debt ceiling, insisting that default can be avoided without raising debt ceiling - WSJ
Senate Republicans announce plans to vote on a constitutional amendment requiring a balanced federal budget - Washington Examiner
"One GOP source on Capitol Hill told The Daily Caller there’s been a push among the conservative wing of the Republican caucus for McConnell to tie the balanced budget amendment to a vote on the debt ceiling."
- "Maybe Republican stubbornness on taxes is worse than Democratic stubbornness on entitlement reform: You can certainly make that case. (My current view is that the G.O.P.’s tax intransigence could have more short-term dangers — it would be dumb and reckless if the Republican leadership ultimately refuses a deal on the debt ceiling because it includes some loophole-closing for high earners, for instance — but that the Democrats’ Medicare intransigence is much more dangerous in the long run.) But at the very least, when it comes to America’s looming fiscal liabilities, it’s hard to argue that conservatives have a monopoly on unrealism." - Ross Douthat
- "We don't really know whether the federal government can use fiscal policy to engineer a recovery. We do know it can go broke trying." - Steve Chapman for the Chicago Tribune
Will Cain, drawing attention to the graph above, urges us not to forget PRIVATE debt - CNN
Obama pressured Republicans to accept higher taxes as part of any deficit plan - New York Times
- Fox concludes that Obama's "scolding" rhetoric has only inflamed tensions between Republicans in Congress and the White House.
- From NRO: "The speaker said Obama was “sorely mistaken” if he thought a deal to raise the debt ceiling that increases taxes would pass the House. “The votes simply aren’t there,” he said. “And they aren’t going to be there, because the American people know tax hikes destroy jobs.”"
- Peter Ferrara at Fox warns that higher taxes could cause a double dip recession.
- "Most Senate Republicans voted two weeks ago to end a tax break for ethanol. Some see that vote as a chink in the armor of anti-tax crusader Grover Norquist and the no-new-taxes pledge he's gotten almost every GOP lawmaker to take." - NPR
Obama calls for leadership but where is his own?
Gloria Borger for CNN wishes Obama would give more leadership on debt: "Imagine my surprise when the president came to his own press conference -- which he called -- without anything much new to say on possible ways get to a deal to raise the national debt ceiling. Plenty of talk about gamesmanship, about deadlines and about how even Sasha and Malia are mature enough to do their schoolwork before it's due."
"The reality is that Mr. Obama has provided very nearly the opposite of leadership. He has not only refused to tackle entitlement reform during his presidency; he has attacked those who do, employing dishonest arguments that are at this stage are almost impossible to keep track of." - Pete Wehner
Obama seeks to paint Republicans as friends of the rich
"One of President Barack Obama’s 2012 themes will likely revolve around what his aides call “the contrast” — a portrayal of Obama as a responsible, moderate adult harassed by infantile Republicans who favor the wealthy." - Politico
"Obama yesterday doubled down on his demand for high taxes on "millionaires and billionaires" as part of a budget deal, daring Republicans to choose either protecting the super rich or allowing a devastating US debt crisis." - New York Post
- E J Dionne at the Washington Post takes up the theme: "Are they really willing to risk the nation’s credit and economic turmoil in order to preserve tax breaks for corporate jets, outlandishly low tax rates for hedge fund managers and loopholes for the oil companies?"
- David Frum: "The stuff about corporate jets is just … crapola really. It’s the Democratic equivalent of Republicans pretending that the deficit can be closed by cutting PBS and the National Endowment for the Arts. If Obama, the supposed grownup in the room, wants to make the case for revenue measures, let him make the case for relevant revenue measures."
Romney leads in fundraising battle
"Supporters of former Massachusetts Gov. Mitt Romney said they have raised between $25 million and $35 million in support of his presidential ambitions, a total that far outstrips his rivals and could further establish Mr. Romney as the Republican Party's front-runner." - WSJ
- Mitt Romney will sign DeMint's 'Cut, Cap and Balance' pledge - The Hill
- Mitt Romney has adapted Margaret Thatcher's 'Labour Isn't Working' slogan, but would he emulate her steely leadership? - Andrew Roberts in the Wall Street Journal
- Fox News poll gives Romney 18%, Perry 13%, Bachmann 11%, Giuliani 10%, Palin 8%, Paul 7%.
Karl Rove warns the GOP not to confuse tea party sentiment with the tea party groups
"Republicans also must not confuse the tea party movement with the larger, more important tea party sentiment. As important as tea party groups are, and for all the energy and passion they bring, for every person who showed up at a tea party rally there were dozens more who didn't but who share the deep concerns about Mr. Obama's profligate spending, record deficits and monstrous health-care bill. The GOP candidate must stay focused on this broader tea party sentiment, not just the organized groups" - Karl Rove in the WSJ
Why Obama is slow to recognize gay marriage
"Even as gay marriage has gotten significantly more popular in the intervening years, it remains a risky proposition with black and Latino voters, and Obama needs them in 2012." - Chris Cillizza for the Washington Post
Aid is to be extended to workers hurt by globalisation – clearing a key hurdle to trade agreements with South Korea, Columbia and Panama - FT ($)
US counter-terrorism strategy to rely on surgical strikes, unmanned drones, rather than large land wars - Chicago Tribune
And finally... Beck says he hates Republicans
Question to Glenn Beck: What do you think of Republicans?
Answer: “I hate them. I think they are as much of a problem as the other side”.
Read more at Politico.
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