Remember 'No New Taxes'?

It was interesting to watch Rep. Nancy Pelosi (D-CA) talkin' to the folks in Oakland last week.  I found myself transfixed by her sophisticated blend of hand gestures, ranging from the one-finger point, the two-finger jab, and the full-hand chop.  Listen, she told them, explaining her vote for the debt-ceiling bill.  "Here's what we got.  We got no Cuts in Medicare, Medicaid, and Social Security."  Then the camera cut away to a group of rent-a-victims holding signs: "Taxes Save Lives," said one; "Cuts Kill" and "Tax the Rich," said others.  Where do the community organizers find these people? All we need now is President Obama addressing the 2012 Democratic National Convention to thunderous applause: "Let me be clear.  No New Cuts!" Back when President George H.W. Bush reneged on his "No New Taxes" pledge, Americans still dwelt in the budgetary Garden of Eden.  In 1990, in the existential crisis that required a balanced deficit-reduction package...(Read Full Article)

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