November 14, 2012
HINT: IT’S NOT THE REPUBLICANS. Investor’s Business Daily: Look Who’s Refusing To Compromise To Avoid The Fiscal Cliff.
If President Obama wants to get a deficit deal done to avoid the fiscal cliff, his biggest challenge won’t be Republicans, but his own hard-core left-wing supporters.
Two days after the election, Obama’s favorite economist, Paul Krugman, set the tone for the intransigent left in a column titled: “Let’s not make a deal.” Boiled down, his advice to Obama was this: Don’t give in to any Republican demands, even if doing so would “inflict damage on a still-shaky economy.” After all, Obama would be better positioned to “weather any blowback from economic troubles.”
Krugman’s advice may be disturbingly cold and calculating, but he has plenty of company on the left.
Robert Kuttner, co-founder of the liberal American Prospect magazine, suggests Obama should just sit it out, let all the Bush tax cuts expire, the automatic spending cuts kick in and expect public pressure to force Republicans to give in entirely.
The left-wing Daily Kos called any kind of “grand bargain” between Obama and the GOP a “Great Betrayal.”
And several Democratic lawmakers have suggested that the correct approach would be to let the country go over the fiscal cliff, since that will only strengthen Obama’s position.
Especially since, no matter what, the press apparat will blame the GOP.