They are acting like this $38 billion is the equivalent of one trillion. They’re acting like the federal budget has just been iced. That’s what’s wrong with this. There’s no sense of proportion. They are acting like the bottom’s been cut out of this. They are acting like their aorta has been split open, and it hasn’t. This isn’t even a stubbed toe and they’re acting like they got stabbed in the heart, my friends.
So on Wednesday, Obama’s giving his big speech here, and you know what he’s gonna say? Among other things Obama’s going to say, (imitating Obama) “Okay, we’ve listened to Republicans and we’ve cut spending.” He’s gonna talk about how monumental the cuts are here. He’s even gonna take credit. He’s gonna say, “I was there.” So now it’s time for compromise. Hello, tax increases. Now we gotta get serious. It’s a campaign issue. It’s time to get the left on board for the 2012 — so acting like they’ve just been wounded to the heart with these cuts, and then going after tax cuts on the rich. All of this is a ruse designed to reignite the fire under the Democrat base, which is not happy, they’re not energized, but this is the ruse to get them that way. And that’s what this Kabuki dance is all about. “We gotta keep the government going somehow. We’ve done Draconian spending cuts. But that will not be enough. Now we have to raise taxes.”
Obama will probably go on to say in his best Bill Clinton impersonation that he’s worked as hard as he’s ever worked on this, but there’s no way we can avoid raising taxes now, especially with all of these cuts. You wait, see if I’m right. On Wednesday night Obama’s gonna talk about these cuts as though they’re 30 times as large as they really are. And Obama warned us, he warned us when he had the Bush tax cut extensions forced on him. He told us at the time he would never stop fighting to raise taxes on the rich, and by rich he means anybody with a job. Not $250,000, but anybody with a job. So whatever he says on Wednesday, it’s gonna boil down to direct or indirect taxes on the rich, as a means of paying for this. But it’s all about reigniting his base.