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White House caves on tax hikes in debt ceiling talks.

Personally, I’m not entirely certain why the Obama administration is so adamant about raising taxes on small businesses, but they’ve at least abandoned their previous position where a possible early end to Bush-era tax breaks (now scheduled to expire in 2012) was on the debt ceiling negotiating table. Unfortunately, the White House is still adamantly refusing to accept the pesky objective reality that there are no Magical Revenue Generators that will allow the country to boost the tax-to-GDP revenue ratio to 25%, forever. In other words, the Democrats don’t want to even think about making spending cuts, and they’re reacting to exasperated Republican calls for them in precisely the same way that pigs react when you don’t refill the trough with swill.

I know that people out there get exasperated with the GOP some times, but if there’s been a better contrast in recent memory between Bad and Worse* than in the comparison of this Congress to the last one, I can’t think of it offhand.

Moe Lane (crosspost)

*More like Not Perfect and Hideously Awful, in my personal opinion – but I sometimes have to factor in a certain institutional pessimism when I write stuff for the VRWC.

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