McConnell: Let's See Your Plan, Mr. President

Today, Senate Minority Leader Mitch McConnell (R-KY) said that President Obama can talk all he wants about raising taxes, but he hasn’t presented any deficit reduction plans. At all. On the floor of the Senate, McConnell announced that slogans and pep rallies won’t cut it. He told the president to lead.

So far, all Obama has done is insist on higher taxes. He has not proposed what he thinks should be cut from the budget, or even how high taxes should be. Meanwhile, he blames Congress for taking a very clear stance on the deficit: no new taxes. The Republican House has passed a budget each of the past two years. President Obama has not.


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“Every Asian market outside Sri Lanka retreated after Federal Reserve Chairman Ben S. Bernanke yesterday said a premature withdrawal of quantitative easing would put the U.S. economic recovery at risk,” Jonathan Burgos reports. What does this say about the US and, in particular, the policies of the Federal Open Market Committee, which are pretty much identical?

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