Review & Outlook: The President's Cliff Walk - WSJ.com: "There's little doubt that Mr. Obama has the political whip hand for the moment. The tax increases and defense spending cuts will automatically take effect if Congress and the President fail to act. Mr. Obama could bludgeon Republicans to accept a deal on his terms, then if they balk simply pocket the tax increases as a revenue windfall, while blaming Republicans if there's a recession.
What that strategy won't do is solve the real problems he's inheriting from his own first term. The deficit is growing by $1 trillion a year and another U.S. credit-rating downgrade beckons as entitlement spending escalates. Above all, the economy is growing too slowly to raise incomes or raise enough revenue for the government.
The question is whether Mr. Obama wants to solve these problems—or continue demonizing Republicans while getting nothing done."
—Getting nothing done? Some would argue that consolidating Federal control over all health care and financial markets is a big agenda item over the next four years. Let' see which States stand up and use their 10th Amendment rights to nullify these unconstitutional infringement and encroachments.
What that strategy won't do is solve the real problems he's inheriting from his own first term. The deficit is growing by $1 trillion a year and another U.S. credit-rating downgrade beckons as entitlement spending escalates. Above all, the economy is growing too slowly to raise incomes or raise enough revenue for the government.
The question is whether Mr. Obama wants to solve these problems—or continue demonizing Republicans while getting nothing done."
—Getting nothing done? Some would argue that consolidating Federal control over all health care and financial markets is a big agenda item over the next four years. Let' see which States stand up and use their 10th Amendment rights to nullify these unconstitutional infringement and encroachments.
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