by BEN SHAPIRO 6 Jan 2013, 9:17 AM PDT
With the fiscal cliff deal signed into law, the nationâ€™s attention now turns to the debt ceiling debate, scheduled to hit in the next two months. As America reaches the debt ceiling yet again â€“ an unbelievable $16.4 trillion debt ceiling needs another increase in order to allow us to borrow more cash to pay our bills â€“ Republicans insist that we finally begin dealing with our spending problem. That was the purpose of the fiscal cliff deal in the first place: to preserve as many of the Bush tax rates as possible, consider tax rates a finished issue, and move on to spending cuts. As Senate Minority Leader Mitch McConnell (R-KY) said on ABCâ€™s This Week, â€śThe tax issue is finished, over, completed. Thatâ€™s behind us. Now the question is: what are we going to do about the biggest problem confronting our country and our future? And thatâ€™s our spending addiction.â€ť
Not so fast.
House Minority Leader Nancy Pelosi told CBSâ€™ Face the Nation
that the historically enormous tax increases just enshrined in law arenâ€™t enough: â€śThe President had originally said he wanted $1.6 trillion in revenue. He took it down to $1.2 trillion as a compromise in this legislation. We get $620 billion, very significant, high-end tax, changing the high-end tax rate to 39.6 percent, but that is not enough on the revenue side.â€ť Pelosi said that the Obama regime had already made cuts to social programs like Medicare â€“ a position the Obama re-election campaign denied repeatedly. She added that there would be no change to Medicareâ€™s eligibility age, and wouldnâ€™t allow cost of living adjustments to Social Security payments. And she concluded that any link between raising the debt ceiling and cutting spending wouldnâ€™t happen: â€śI donâ€™t think those two things should be related.â€ť She went so far as to say that sheâ€™d unilaterally raise the debt ceiling in violation of the Constitution if she were president.
To bolster her argument on taxes, Pelosi didnâ€™t actually cite statistics on economic development or job creation. Instead, she labeled her opposition â€śan over-the-edge crowdâ€ť of â€śanti-government ideologuesâ€ť who are â€śhard to understand.â€ť Because wanting to cut spending when youâ€™re running a national debt the size of the combined national debts of the entire European Union is out of the mainstream, and makes you unreasonable.
on Jan. 6, 2013 at 5:38 PM