Former New York Times executive editor Bill Keller is advising President Obama and the Democrats to “Head for the Cliff,” writing Sunday:
In January, two fiscal time bombs planted by Congress are due to explode. On Jan. 1, all the Bush tax cuts expire, constituting a $400-billion-plus tax hike in 2013. The next day — unless Congress agrees on a major deficit-reduction plan — a fiscal discipline known as sequestration will slash about $100 billion a year from federal spending, divided between defense and nondefense.
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For months now, Erskine Bowles, the former Clinton chief of staff and a co-chairman of the Simpson-Bowles commission, has been quietly proposing that Obama treat the January Armageddon as an opportunity. The president should head straight for the cliff and let Congress know he’s prepared to take us over the edge unless they build a bridge.
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For months now, Erskine Bowles, the former Clinton chief of staff and a co-chairman of the Simpson-Bowles commission, has been quietly proposing that Obama treat the January Armageddon as an opportunity. The president should head straight for the cliff and let Congress know he’s prepared to take us over the edge unless they build a bridge.
Problem is, the fiscal cliff is a lot closer than Keller thinks. As I wrote this weekend:
Read More at The Washington Examiner
