Source: WSWS
Obama for the first time in his Wednesday press conference went on record in supporting a short-term increase in the debt ceiling, saying, “If they can’t do it for a long time, do it for the period of time in which these negotiations are taking place.”
As the October 17 deadline for raising the US government’s borrowing limit approaches, both sides are zeroing in on their real goals: a “Grand Bargain” to make sweeping cuts to social programs, while lowering corporate taxes.
Obama reiterated that the Democrat-controlled Senate has already passed a budget at funding levels demanded by Republicans, and that “we’re willing to have conversations about anything.” He added, “I will sit down and work with anyone of any party, not only to talk about the budget; I’ll talk about ways to improve the health care system … I’ll talk about ways that we can shrink our long-term deficits.” This is Washington-speak for cutting social programs.
Obama added, “If anybody doubts my sincerity about that, I’ve put forward proposals in my budget to reform entitlement programs for the long haul and reform our tax code in a way that would … lower rates for corporations.”
Leaders of both parties had been angling for such a deal during the 2011 debt ceiling crisis, but such a sweeping agreement proved elusive. Instead, the White House and Congressional Republicans approved a more limited series of cuts that largely left Social Security and Medicare intact.
Obama made a stark admission of his broader goals in the debt negotiations during the press conference, when, in response to a reporter’s question, he said, “Whenever I see John Boehner to this day, I still say, you should have taken the deal that I offered you back then, which would have dealt with our long-term deficit problems, would not have impeded growth as much, would have really boosted confidence.”
Amid government shutdown, Obama signals cuts to Social Security, Medicare
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