Saturday, February 11, 2012

The 2012 Elections Will Pit The Deficit Hawks Against Invest In America's Future

The White House budget plan will reinforce his messages in his State Of The Union address. The 2012 election campaign will pit Obama's message of investment, that will be funded by invoking the "Buffet Plan" that insures that those who earn over $1 million per year pay at least 30% in taxes, against Paul Ryan's austerity plan that focuses on deficit reduction. For those who don't believe that economics and politics are intertwined, this should convince you otherwise. In one corner we have Obama making the tax system more progressive, and investing in infrastructure to strengthen the economy, and in the other corner we will probably have Mitt Romney preaching the virtues of Paul Ryan's roadmap to smaller deficits. Romney will have support from the numerous right wing think tanks that will reinforce the austerity message through Rupert Murdoch's Fox News and the Wall Street Journal, as well as the preachers on talk radio. Obama's message will be supported by Paul Krugman and eggheads like me who are over educated and live close to one of the oceans on our East and West Coasts. He will lose the votes of those in the Southwest who want to rename the Gulf Of Mexico to The Gulf Of America.

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