Obama Puts His Foot Down

Richard N. Weltz
Today, President Barack Obama stamped his foot and threatened Congress in no uncertain terms that he'd take his signing pen and stalk off in a huff if his efforts to usurp the legislative function were not approved -- and damn quickly, at that. Demanding that the House and Senate "pass this bill," although there isn't actually any bill as such, the President made it clear that he wouldn't consent to cuts in Medicare and Social Security benefits without an accompanying significant tax hike -- although nobody is proposing cutting back Medicare or Social Security benefits, merely restructuring the programs in future years to ensure fiscal viability when those now 55 or under reach eligibility age. In addition, Obama proposed  sweeping new "success penalty" tax  laws, which he jokingly referred to as "the Buffett rule," designed to penalize those who become successful enough in a free-market economy to amass substantial amounts of capital and discourage them from liquidating any...(Read Full Post)

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