Taking it to the President on the Fiscal Cliff

President Obama believes he has boxed-in Republicans with the fiscal cliff negotiations, and is playing hardball, causing some Republicans to urge capitulation, certain that otherwise blame for the presumed financial crisis to follow will fall on their shoulders. But the GOP-controlled House can play this game too. Appropriate actions would be for the Republican controlled House (where all revenue measures must originate under Article l, Section 7 of the Constitution) to pass one of the following: (1) a bill that would freeze the current tax rates and delay the spending cut sequester until March 31, 2013, to allow until at least March 31, 2013 to negotiate and evaluate a grand bargain of spending cuts and comprehensive tax reform; or (2) a bill to make the Bush tax cuts permanent; or (3) a bill incorporating a Bowles-Simpson type revenue and spending cut mix.  Whichever of these approaches, the bill can be designed and advertised as a backstop or safety measure to prevent...(Read Full Post)