James Pethokoukis

Will Boehner pull a ‘Reagan at Reykjavik’ and walk?

July 10, 2011

Will House Speaker John Boehner commit Republicans to raising $1 trillion in taxes as part of President Obama’s last-minute push for as much as a $4 trillion debt reduction deal? Obama and the GOP meet Sunday evening, but things continue to develop quickly:

Is Obama getting ready to snooker Boehner on taxes?

July 9, 2011

The media accounts of the tax reform deal being cooked up by President Obama and House Speaker Boehner aren’t all that clear. But it is looking like a big tax increase:

The horrendous June jobs report

July 8, 2011

When economists are expecting 100,000 or so net new jobs, and the Labor Department reports measly gains of just 18,000 (plus an increase in the unemployment rate to 9.2 percent), the reaction sounds like this:

Why the GOP should reject tax increases, in one chart

July 8, 2011

Why are Republicans demanding a debt deal that has big spending cuts but no tax increases? (Besides, of course, the fact that spending is the problem and the last thing this weak economy needs is a tax hike?) Maybe it’s because the last time they agree to one of these “$2 in spending cuts for every $1 in tax hikes” agreements, they got snookered.

Kudlow on Washington’s spending problem

July 7, 2011

Larry Kudlow breaks it down, even has a chart!:

The blue line you see is President Obama’s budget. The green line is Congressman Paul Ryan’s budget.

Ezra Klein accidentally argues against GOP accepting tax hikes

July 7, 2011

The WaPo’s Ezra Klein has cooked up a chart attempting to show previous debt deals had plenty of tax increases in them, even more than what Obama is demanding:

U.S. debt crisis might be on fast track

July 7, 2011

One of the outside economic-analysis firms that the White House likes to quote is Macroeconomic Advisers. Here’s what the firm said yesterday about where the U.S. economy is heading (bold is mine):

Obama’s $4 trillion Grand Bargain

July 7, 2011

The president says it’s time to go big (via Reuters):

After weeks of impasse, President Barack Obama and top congressional leaders are aiming for “something big” as they resume budget talks on Thursday to avert an imminent default. With Republicans showing new flexibility on taxes, Democrats say Obama will push negotiators to double their target to $4 trillion in budget savings over 10 years. That would be an ambitious goal, but there have been a few hints of progress since talks hit a brick wall two weeks ago.

Does Obama want to cut the deficit?

July 7, 2011

Let’s keep in mind that if President Obama had his druthers, the debt ceiling would’ve already been raised some $2 trillion via a “clean vote” in Congress. No spending cuts. Yes, I know  Obama said the following this earlier this week:

Obama really might have made it worse

July 6, 2011

The Republican charge is a body shot aimed right at the belly of President Barack Obama’s re-election effort: He made it worse.