Former no-shame Obamabot Jonathan Chait has finally turned against his con-man Messiah in a nitty-gritty analysis of Obama's abject budget "negotiations" from 2011.
How Obama Tried to Sell Out Liberalism in 2011 takes off from WashPo's recent blow-by-blow description of Obama rolling over and over and over for John Boehner's crazy tax-cuts and endorsing the upside-down right-wing economics of "tax-cuts increase tax-revenues!"
The Republicans wanted Obama to give up plans to raise the tax rate paid by the wealthiest Americans, now set at 35 percent. Instead, they wanted that rate to go down. They also wanted to preserve low rates for investment income - one of the biggest perks for the wealthy in the tax code - and establish a blanket exemption from U.S. taxes for corporate profits earned overseas.
Better still, any increase in revenue to cover these huge cuts and exemptions from the rich would come from "overhauling the tax code," not from higher tax rates.
Obama, incredibly, agreed to that - he agreed to a debt reduction plan that would exempt the wealthy from any sacrifice, and indeed protect them from the possibility that their tax rates would rise when the Bush tax cuts expire.
And it gets even better!
At this point it occurred to Obama that he might have a wee problem with his base. "We'd be beat up miserably by Democrats who thought we got out-negotiated," recalls Daley. (Ya think?) So Obama briefly backtracked, and asked Boehner if he would give him a little more revenue in return for deeper cuts to Medicare."
And why wouldn't Boehner accept Obama's firesale/giveaway/sell-out in 2011?
Because he knows that Obama will always sell us out a little cheaper the next time around, because that's who he is.
Crazy Eddie Obama, best friend of the mega-banks, billionaires, and the GOP!