Oh My: McConnell Laughed Out Loud When Geithner Discussed Obama’s Plan

Townhall.com ^ | November 29, 2012 | Daniel Doherty

[Kaslin]

Negotiations can’t be going too well if the Senate Minority leader is openly scoffing at President Obama’s “bipartisan” plan to solve the looming “fiscal cliff” crisis. Yikes:

Mitch McConnell, the Senate Republican leader, says he “burst into laughter” Thursday when Treasury Secretary Tim Geithner outlined the administration proposal for averting the fiscal cliff. He wasn’t trying to embarrass Geithner, McConnell says, only responding candidly to his one-sided plan, explicit on tax increases, vague on spending cuts.

Geithner’s visit to his office left McConnell discouraged about reaching a “balanced” deal on tax hikes and spending reductions designed to prevent a shock to the economy in January. “Nothing good is happening” in the negotiations, McConnell says, because of Obama’s insistence on tax rate hikes for the wealthy but unwillingness to embrace serious spending cuts.

Geithner suggested $1.6 trillion in tax increases, McConnell says, but showed “minimal or no interest” in spending cuts. When congressional leaders went to the White House three days after the election, Obama talked of possible curbs on the explosive growth of food stamps and Social Security disability payments. But since Geithner didn’t mention them, those reductions appear to be off the table now, McConnell says.

Obama is pushing to raise the tax rates on couples earning more than $250,000 and individuals earning more than $200,000. But those wouldn’t produce revenues anywhere near $1.6 trillion over a decade.

In fairness, President Obama’s unwillingness to embrace “serious spending cuts” has been a staple of his presidency. Just look at his most recent budget proposal, for example. That being said, it’s abundantly clear now (as if it wasn’t before) that when John Boehner told the nation hours ago that “no substantive progress” had been made regarding solving this impending crisis . . . he wasn’t kidding. Indeed, some conservatives are now openly urging congressional Republicans to simply give up -- that is, let Democrats have their way and when the US economy goes bombing off the man-made “fiscal cliff” on January 1^st -- Republicans can absolve themselves of any wrongdoing. This isn’t true, of course, and would be disastrous for a number of different reasons -- as Guy pointed out below -- but it’s certainly an interesting proposition. In the end, however, I suspect some sort of 11^th hour deal will be struck before the New Year; but what the details will be I can’t say.

In closing, I’ll leave you with a few words from the man who has perhaps done more than anyone living to raise awareness about the devastating consequences of reckless government spending and the dangers of -- to borrow a phrase recycled ad nauseam these days -- kicking the can down the road:

The Path to Prosperity (Episode 1): America's two futures, visualized

[justa-hairyape]

Progressives and leftists are very simple to figure out. They always make the wrong choices, even though they know what the correct choices are. You see, the ability to always choose the wrong answer, requires that you always know the correct answer. The real question is why do they always do the wrong thing ? Are they trying to prove they are smarter then everyone else by actually demonstrating that the wrong approach will actually work ? Or are they just demolitionists trying to bring civilization crashing down ?

[bert]

The government by law and I think constitutional amendment imposes an income tax. At present very many people pay no income tax at all.

Real fairness dictates that those who pay no tax must pay something and the way to assure that is to decrease the Standard Deductions and exemptions. As it is, the present course is to leave the vast majority of taxpayers unburdened by attempting to make those who already pay the most, pay more.

As to taking too much, That is not really the issue in my post. The issue is to balance the taking by not increasing the share of the wealthy who already pay most of the tax, but to shift the some of the burden back on those who pay little or none of their tax on income. That is what is fair.

Spending too much is definitely the problem and should be drastically curtailed.

[MrB]

The law is written on their hearts, just as it is with every human on the planet.

The left, however, instinctively rebels against it,
so this is why you see them reflexively choosing the wrong answer every time.

[what's up]

Or are they just demolitionists trying to bring civilization crashing down ?

Civilization is built by responsible decisions.

Leftists revolt against responsibility because they are in thrall to their passions and do not want to fight to tame them.

They will always hate those who are able to live responsibly and will fight to attack the system to try to bring the civilized down to their level.

[justa-hairyape]

Thanks for the replies on this thread. Gave up trying to knock sense into the mind of leftists, a decade or so ago. Now I see why it is so difficult. In fact, pretty much impossible. That explains why they continue with their CO2 is causing Global Warming meme even though temps have not risen in over 15 years. Also explains why they want to administer socialism in the US even though it has failed everywhere else. Also explains why we cannot solve their problems at the ballot box.