Obama: Cuts that Hurt the Economy are GOP's Raison D'etre

Several outlets are noting Obama’s comments on Al Sharpton’s radio show, but the Free Beacon was kind enough to put it on You Tube:

Is the President losing his short term memory? He talks as if we haven’t already had a mix of revenues and cuts including $600B in new revenue Republicans agreed to just two months ago.

The issue is what portion of the remaining deal must be revenue to constitute the kind of balance Obama says is desirable. As I’ve pointed out daily, the President defined balance as 3:1. That’s also what Simpson-Bowles 2.0 recommends. But the Senate deal, which the President is pushing, would put us at 2:1. It would also allow the President to avoid making the tough cuts to entitlements the sequester was specifically designed to force.

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