[Peace-discuss] Austerity Obama-style

[C. G. Estabrook]

John Boehner Welcomes Big Deficit Deal, Pledges to Work with President Obama
http://abcnews.go.com/Politics/OTUS/john-boehner-welcomes-big-deficit-deal-pledges-work/story

On Nov 7, 2012, at 8:44 PM, C. G. Estabrook <carl at newsfromneptune.com> wrote:

> http://www.guardian.co.uk/commentisfree/2012/nov/07/obama-progressives-left-entitlements
> 
> '...It is widely expected - including by liberals - that Obama intends (again) to pursue a so-called "Grand Bargain" with the GOP: a deficit- and debt-cutting agreement whereby the GOP agrees to some very modest tax increases on the rich in exchange for substantial cuts to entitlement programs such as social security and Medicare, the crown legislative jewels of American liberalism.
> 
> 'Indeed, Obama already sought in his first term to implement sizable cuts to those programs, but liberals were saved only by GOP recalcitrance to compromise on taxes. In light of their drubbing last night, they are likely to be marginally if not substantially more flexible, which means that such a deal is more possible than ever.
> 
> 'In other words, the political leader in whose triumph liberals are today ecstatically basking is likely to target their most cherished government policies within a matter of weeks, even days...'

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