Commentary Magazine


Contentions

“Change” Turns Out To Be Too Expensive and Unpopular

The Obama change machine is grinding to a halt. Politico reports:

Officials are most pessimistic about his energy and global warming plan, with many aides doubting he will win passage of a cap-and-trade emissions reduction system, which is strongly opposed by business and Republicans.

[ . . .]

Congressional and administration aides agree that none of his three biggest agenda items is likely to achieve final passage before this fall.

The Obama team uses consultant-speak to explain their inability to move forward. There is not “enough bandwidth” for all his great ideas and “it is never easy to change Washington.” But it seems never to dawn on them that the items on their agenda are problematic even within their own party. Where is the governing majority in favor of cap-and-trade? There isn’t one. Do moderate Democrats want to raise billions and billions in new taxes to pay for nationalized health care? The public at large certainly isn’t enthusiastic about it.

James Capretta explains the magnitude of the healthcare problem:

Where will the Congressional majority find the money to pay for such an expensive program? The Obama budget plan targeted upper-income households, private health insurers, and drug companies, and suggested some modest Medicare payment reforms as well. But those offsets only totaled $634 billion over ten years, and Congress has already signaled that the suggested limit on the deductibility of home-mortgage interest and charitable contributions for upper-income households, a $300+ billion tax hike, is all but dead. The Medicare payment reforms seem likely to undergo a downsizing too when they are put under the political microscope.

We spent a trillion dollars (including interest) on a stimulus bill that was supposed to keep unemployment below 8%. We are going to have a $3.6 trillion budget. And the rest of the Obama agenda (e.g. card check, nationalized healthcare, cap-and-trade) is fiscally or politically unfeasible. So what is he going to do for the next three and a half years? (Well, other than rid the world of nuclear weapons.) Perhaps he might finally get around to spurring economic growth and job creation.



Join the discussion…

Are you a subscriber? Log in to comment »

Not a subscriber? Join the discussion today, subscribe to Commentary »





Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor to our site, you are allowed 8 free articles this month.
This is your first of 8 free articles.

If you are already a digital subscriber, log in here »

Print subscriber? For free access to the website and iPad, register here »

To subscribe, click here to see our subscription offers »

Please note this is an advertisement skip this ad
Clearly, you have a passion for ideas.
Subscribe today for unlimited digital access to the publication that shapes the minds of the people who shape our world.
Get for just
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor, you are allowed 8 free articles.
This is your first article.
You have read of 8 free articles this month.
YOU HAVE READ 8 OF 8
FREE ARTICLES THIS MONTH.
for full access to
CommentaryMagazine.com
INCLUDES FULL ACCESS TO:
Digital subscriber?
Print subscriber? Get free access »
Call to subscribe: 1-800-829-6270
You can also subscribe
on your computer at
CommentaryMagazine.com.
LOG IN WITH YOUR
COMMENTARY MAGAZINE ID
Don't have a CommentaryMagazine.com log in?
CREATE A COMMENTARY
LOG IN ID
Enter you email address and password below. A confirmation email will be sent to the email address that you provide.