The Washington Post is reporting that "Obama is proposing significant reductions in Medicare spending and for the first time is offering to tackle the rising cost of Social Security, according to people in both parties with knowledge of the proposal."
Building on last year's legislation providing for a partial suspension of social security payroll collections -- without historical precedent at that time -- it now appears President Obama is set on using all of his powers of persuasion to induce Republicans to join with him in making "major changes to Social Security and Medicare in exchange for Republican support for fresh tax revenue."
Obama's presentation to Republicans is reportedly grand indeed -- the President will seek a plan that would slash more than $4 trillion from annual budget deficits over the next decade, rather than the $2 trillion dollars discussed so far. To repeat:
As part of his pitch, Obama is proposing significant reductions in Medicare spending and for the first time is offering to tackle the rising cost of Social Security...
Apparently the undermining of Medicare alone is not sufficient for the President as he is willing throw Social Security into the Republican grinder as well.
And for what? It appears that the "fresh tax revenue" may merely consist of Republican support in allowing the Bush tax cuts to expire as well as closing some relatively benign corporate tax "loopholes." I say "benign" because key Republicans insist that the "final deal" cannot raise tax rates or overall federal tax collections.
In other words, a deal may be cobbled that seriously undermines Social Security and Medicare without really increasing federal tax collections.
I don't know about you, but I didn't cast a vote for Barack Obama in 2008 to watch him take hammer blows to the New Deal and Great Society. I didn't vote for Barack Obama in 2008 to watch him squander the political capital Paul Ryan gave him with the Republican plan that privatizes Medicare. I didn't vote for Barack Obama in 2008 to watch him undermine the legitimacy of the Democratic Party.
In politics, as in life, there sometimes come a time when it is time to stand up and be counted. When it is time to fight. To just say "no." I think that time has come. Barack Obama apparently thinks it's time to trade away core Democratic programs, and to never fight.
I hope these reports of President Obama's impending grand offer to Republicans are incorrect. Because if they are true, Obama's grand deal will set back the American dream, and seriously damage the Democratic Party.