Ken O’Brien
It’s still the economy stupid.In a run-up to Wednesday’s first Presidential debateit’s important to keep this in mind. And equally important, the issue is notthe past but the future.
The core components of the economy issue are twofold– economic growth to provide jobs and the reduction in Federal indebtedness.
The Democratic approach is essentially to increasegrowth through expanded spending on infrastructure, education and social servicesfinanced by the return to Clinton era tax levels on those earning more than $200,000per year ($250,000 for families). Debt reduction is achieved through increasedtax revenues from increased income growth as well as elimination of priorongoing expenditures that are carry-overs from the Bush Administration such asthe unfunded wars in Iraq and Afghanistan and the Medicare drug expansion.
The Republican approach, hidebound by their pledgenever to increase taxes, is to claim that revenues can be increased byadditional reductions in taxes that will supposedly stimulate job creation(despite 30 years of historical evidence to the contrary) while eliminating taxloopholes and deductions, not one of which they have been willing to name.
The Romney/Ryan campaign’s lack of specificity wasstarkly illustrated yesterday morning. The Republican budget guru and Vice-Presidential candidate, Representative Paul Ryan, appeared on Fox NewsSunday with Chris Wallace. Fox News can hardly be regarded as hostile territoryfor the Republican candidates. Therefore, it is to Chris Wallace’s credit thathe refused to allow Rep. Ryan to escape with the constant evasiveness that hascharacterized the Republican ticket on this issue.
Contrast that response to the following infographicprovided by the White House outlining the President's tax plan:
Infographic: President Obama's Tax Plan
Perhaps you should keep these differingillustrations in mind as you watch the Presidential debate. They should alsobear on your thinking regarding your votes for members of the US House andSenate that will determine the adoption of one plan or another. OR, God forbid, just more gridlock.
Forfurther perspective see the latest article by TimDickinson in Rolling Stone.
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