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View Diary: White House shoots down House Republican proposal on fiscal cliff (135 comments)

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  •  Even a blue-blood dog needs to show a bit of blue (0+ / 0-)

    Indeed, EB is likely to continue lobbying for reductions in "entitlements" of the lower and middle classes.  EB's calling out of Boehner on refusing to negotiate seriously on tax rates is presumably intended to preserve EB's credibility and access to Obama when the final compromises start being made.

    EB may be trying to rehabilitate himself from his previously atrocious and politically stupid recommendations and tactics. For a guy who once thought he could win a statewide election in North Carolina, it must have been humiliating that there was such a ferocious shooting down of the trial balloon about appointing him Treasury Secretary.

    The recent US election (which indeed must have shaken EB) is not the only "changed circumstances". Others include the increasing obviousness of the UK's continuing failure to cut their way out of the slump; and the IMF's public finding that nobody in Europe is going to be able to cut their way out of the slump.  The fact that Germany's Merkel continues to resist this IMF finding makes it clear that, at least between now and the next Congressional elections, the US will need to generate all (and perhaps more than all) of its growth from internal demand.  

    Hopefully another changed circumstance was a private conversation between EB and Obama where EB got the point that there is a cost to be paid by appointees who put more weight on coddling the 0.01% than on considering the reasonable needs of the President who appointed them.

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