Well after all the bluster coming from the Democratic camp about President Obama’s “upper hand” leading into the sequester showdown, it turns out he had no game at all. The result: score another one for the Tea Party who got to take a hatchet to government spending and hold the line on taxes. As I wrote after the “Fiscal Cliff” showdown:
Grover Norquist is happy. After the fiscal cliff deal was passed in the House, he pointed out that Obama blinked on his $250,000 line in the sand on taxes and that, by locking in the Bush tax cuts for 98% of Americans, the Democrats’ ability to defend the legacy of the New Deal has been greatly diminished. He’s right.
And now Grover and company are even happier as the Republicans just said no to more taxes and let the ax fall indiscriminately on government spending. The “liberal media” may think badly of them and their national approval rating may be in the toilet but they simply don’t give a rat’s ass because they are winning nonetheless.
But fear not progressives, Obama is desperately courting Republicans outside of the party’s leadership in hopes of doing an end run to get to a “grand bargain” that will give us the manna from heaven that is austerity lite. [Read more…]