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Obama’s new “grand bargain” avoids real tax reform and increases spending

From the Associated Press, reporting on the President’s speech yesterday: Seeking to ease Washington gridlock, President Barack Obama on Tuesday challenged Republicans to accept a new fiscal deal to cut corporate tax rates in exchange for more government spending on jobs programs. The offer was immediately panned by GOP lawmakers, who accused the president of repacking proposals he already supports and making no concessions to the opposing party. The Associated Press reports Senator John McCain (R-AZ) shot down the idea, as did Speaker Boehner and numerous other Republicans. What’s so bad about the President’s idea? First, his speech ...