The roadshow being put on by Senator Ted Cruz (R-TX) and the Heritage Foundation pushing for the defunding of Obamacare is doing a good job of pitting Republican against Republican. But it’s helped distract from the one core value of the Republican Party: Never ever ever ever ever ever ever raise taxes on the rich.
Politico is reporting that deficit talks between the White House and Senate Republicans have broken down over that exact issue.
“While it’s disappointing, it’s very evident that there’s not enough common ground to produce a result,” Sen. Bob Corker (R-TN), said on Thursday.
This is a repeat of the same drama that led to the debt limit crisis, the failure of the “super committee” and could lead to another crisis that slows economic growth at best or a complete financial meltdown at worst, even as the deficit continues to fall — to about half of what President Obama inherited.
Republicans demand cuts to Social Security, Medicare and Medicaid. The White House agrees, as long as Republicans will agree to some tax increases on the rich. Everything falls apart. Lather, rinse, repeat.