That is what Obama seems to be demanding in return for not having a massive tax hike on January 1st – from the Washington Post:
…Republicans are demanding that Democrats extend Bush-era tax cuts at all income levels at least temporarily, not just those that primarily benefit the middle class. They are also pressing Democrats to approve a measure to keep the government funded through September, a move aimed at avoiding a fight with the White House over spending that could provoke a government shutdown.
In return, Obama is seeking Republican support for as much as $150 billion in new spending on the economy, including an additional 13 months of emergency jobless benefits and another year of his signature “Making Work Pay” tax cut for working families…
Now, is it worth it? Yes – though we should demand that the $150 billion come out of some other spending and at least press the issue to getting $50 billion in cuts elsewhere. Having a massive tax hike on January 1st could send us straight in to Great Depression – something we’d all rather avoid. We still might get that Great Depression (what with China spiraling in to inflation and Europe on the verge of default), but there’s no sense in shooting ourselves in the foot. Getting the extension is worth a pretty high price – and as our President is a liberal, that price will have to be paid in useless and/or counter-productive spending.
The real battle over spending is for the summer – as we start to work out the FY 2012 budget; in that, we should insist not just upon big cuts in spending, but also on getting the whole budget enacted as of October 1st, the start of the fiscal year. It is in the 2012 budget that we can start to reform America as well as draw a lot of bright lines between ourselves and Obama’s Democrats in front of the 2012 election.
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