Will Obama endorse Bowles-Simpson debt plan?
Will President Obama finally endorse the debt plan of his own debt commission in his big speech tomorrow?
That’s the buzz today around Washington. But really, why wouldn’t he? The Bowles-Simpson plan would basically enshrine Obamacare and raise taxes to the highest level in American history (21 percent of GDP) — meeting two key Democratic goals.
No, it’s not the goofy all-taxes, all-the-time plan put forward by the House Progressive Caucus, but you would have to be pretty far on the liberal extreme not to be happy with the idea. An Obama endorsement would also set up a great contrast with Rep. Paul Ryan’s Path to Prosperity, which would shrink government, expand freedom and promote dynamic, entrepreneurial capitalism.