Thursday, November 29, 2012
As the clock ticks and we watch the various players move their pieces into place, it’s becoming increasingly obvious that Republicans are in a no-win situation. They’re ether going to have to cave and agree to a tax increase without meaningful spending cuts or take the blame for going over the fiscal cliff. Here are five reasons why going over the cliff is by far the best option.
1. It’s a Trap!
Though House Speaker John Boehner foolishly helped to manufacture this trap by making tax increases the primary issue in the fiscal cliff negotiations, there’s still time to extricate himself and his party.
Obama and the media could not care less about the economy or the deficit or the middle class. What they want is a rerun of 1992 in 2014.
There was all kinds of media praise and back-slapping from Democrats after George H. W. Bush agreed to break his “read my lips” tax pledge in exchange for spending cuts. The result of that broken promise, though, was that he looked weak, like a dupe, and faced a bruising primary challenge for reelection in ’92. And during this campaign, the same media that had baited Bush into breaking his most memorable campaign promise, turned on him. We all know how that ended.
If House Republicans abandon the cornerstone of their party and agree to Obama’s tax increases, they are almost certain to lose the support of much of their base. The fallout would likely be worse than 1992.
After all, if conservatives can’t count on the GOP to hold the line on taxes, what good are they?
2. No Meaningful Spending Cuts Will Happen Between Now and Christmas