11/18/12

MoveOn: "Fiscal Cliff" Just another Republican Boogeyman

According to progressive advocacy organization MoveOn, the so-called "fiscal cliff" is just a boogeyman created by the Republican House and Speaker John Boehner to scare Americans into extending the Bush tax cuts for the wealthiest 2% and cutting Social Security, Medicare and Medicaid.

The only thing going off the cliff on December 31, it said, is the Republicans' ability to hold the economy hostage.

As columnist Paul Krugman wrote, the threat of spending cuts and tax increases isn't a fiscal crisis:  it's a political crisis created by the GOP.

MoveOn calls the sequester another Republican boogeyman, forced on Democrats as the price of lifting the debt ceiling last year, in order to avoid crashing our economy.

The sequester is a set of cuts (50% to the military budget and 50% to key domestic programs) so repulsive to both Republicans and Democrats that they'll never let it happen. Those cuts, BTW, can be reversed months into 2013 without consequence.

Since there's nothing the Republicans can do to the "Big Three": Social Security, Medicare and Medicaid before the sequester drops on January 1, it said, why, it asked, would Democrats compromise now?

Share this 5-Point Guide To The Fiscal Showdown.

Source materials: 1. "Hawks and Hypocrites," The New York Times, November 11, 2012 http://www.moveon.org/r?r=284476&id=57918-18347735-6eLB4zx&t=5 2. "Bush-Era Tax Cuts," The New York Times, November 9, 2012 http://www.moveon.org/r?r=284477&id=57918-18347735-6eLB4zx&t=6 3. "Boehner Is Bluffing," Slate, November 9, 2012 http://www.moveon.org/r?r=284478&id=57918-18347735-6eLB4zx&t=7 4. "CBO: Ending High-Income Tax Cuts Would Save Almost $1 Trillion," Center on Budget and Policy Priorities, August 24, 2012 http://www.moveon.org/r?r=284479&id=57918-18347735-6eLB4zx&t=8 5. "The sequester, explained," The Washington Post, September 14, 2012 http://www.moveon.org/r?r=284480&id=57918-18347735-6eLB4zx&t=9 6. Ibid. 7. "Let's Not Make a Deal," The New York Times, November 8, 2012 http://www.moveon.org/r?r=284484&id=57918-18347735-6eLB4zx&t=10 8. "How the Across-the-Board Cuts in the Budget Control Act Will Work," Center on Budget and Policy Priorities, April 27, 2012 http://www.moveon.org/r?r=284489&id=57918-18347735-6eLB4zx&t=11 9. "Veterans' Jobs Bill Blocked in the Senate," The New York Times, September 19, 2012 http://www.moveon.org/r?r=284488&id=57918-18347735-6eLB4zx&t=12 "Jan Schakowsky Announces New Budget Plan With Focus On Jobs," The Huffington Post, August 10, 2011 http://www.moveon.org/r?r=263135&id=57918-18347735-6eLB4zx&t=13 "Fact Sheet: The American Jobs Act," The White House, September 8, 2011 http://www.moveon.org/r?r=264021&id=57918-18347735-6eLB4zx&t=14

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