WHO: President Obama WHAT: In his presser last Wednesday, Obama framed the choices facing debt-ceiling negotiators in very emotional terms, saying “…if we choose to keep tax breaks for oil and gas companies that are making hundreds of billions of dollars, then that means we’ve got to cut some kids off from getting a college scholarship, that means that food safety may be compromised.”
WHY IT’S DIM: Tax breaks for energy exploration and depreciation of corporate jets, regardless of their merits, are miniscule and won’t to keep anyone from getting a scholarship. Rather, the unsustainable entitlement burdens that Obama refuses to address threaten to soak up all government revenue.
CURE: A president who is a leader, not a demagogue.
