Obama Must Be Willing to Go Over the Fiscal Cliff
Posted at 10:15 a.m. on Nov. 9, 2012
Paul Krugman urges President Obama to “hang tough” if Republicans refuse to raise tax rates in negotiations over the fiscal cliff and to be “willing, if necessary, to hold his ground even at the cost of letting his opponents inflict damage on a still-shaky economy.”
“Republicans are trying, for the third time since he took office, to use economic blackmail to achieve a goal they lack the votes to achieve through the normal legislative process. In particular, they want to extend the Bush tax cuts for the wealthy, even though the nation can’t afford to make those tax cuts permanent and the public believes that taxes on the rich should go up… So what should he do? Just say no, and go over the cliff if necessary.”
