If you listen to many in the Republican intelligentsia, you will hear this accusation that conservative rebels destroyed the Republican Party. The reality is that nothing changed after the defeat of Boehner’s plan B other than Republicans not buying into the premise of raising revenue for the federal leviathan.
Before last night’s vote, we faced two possible outcomes; either we go over the cliff (which is not even such a cliff because rates could always be extended retroactively) or Boehner was going to cave on 90% of what Obama wanted. The same thing applies now. Boehner was never going to stand by his plan. And if it was worth voting for Boehner’s plan, which according to their logic represented a tax cut for 99.81%, then it was worth voting for Obama’s plan, which, by the same logic is a tax cut for 99% of taxpayers.
There are two things our Government must do: Stop excessive and wasteful SPENDING and change the Accounting procedures from BaseLine Budgeting to Zero-Balance Budgeting.