Obama vs austerity

Obama budget seeks to boost middle class, close gap on income inequality

Repeal of sequestration, higher taxes for the rich, lower taxes for everybody else, new spending to benefit ordinary folks, big money for infrastructure projects, a modest deficit of Keynesian intent.

Says the story,

The Republican preference is for continued austerity and lower taxes, which will probably be reflected in their own budget plans expected next month. 

To boost Pentagon spending as defense hawks want, their budgets are expected to slash more deeply into food stamps, healthcare and other safety-net programs.

As in Europe, conservatives are all in for austerity.

As in Europe, the claim is this will generate activity and power recovery.

As in Europe, the absurdity of that claim is born out both by theory and by actual events since 2008, as well as much other, earlier historical evidence.

As in Europe, the real point of austerity is to make the rich richer, enhancing inequality by beating the heck out of everyone else.

It is notable, for example, that O wants to replenish the expiring highway fund with a one time tax on corporate earnings overseas that have not been repatriated.

Conservatives have urged a big hike in the devastatingly regressive gasoline tax, a suggestion in which leftists more worried about global warming than the working and the ordinary people of America have found merit.