Will Everyone Please Calm Down?

I was out of earshot of the televisions and the cable "news" outlets today (thankfully) and therefore out of earshot when the hair on fire freakout happened with a story based on those famous "anonymous sources" leaked that President Obama was ready to sign off on a $3 Trillion debt reduction deal with no increases in revenue. IEEEEE!!! Run into the streets with torches and pitchforks! Obama is selling out the poor! We knew it! He's not going to raise taxes! IEEEE!...

I found out when one of my faithful readers sent me an email with a link taking me to the Washington Post article and it's ridiculous first paragraph (emphasis mine):

President Obama and top House Republicans are deep in negotiations over a far-reaching plan to save $3 trillion over the next decade through sharp cuts in agency spending and politically painful changes to popular health and retirement programs, but without any immediate increase in taxes, Democratic congressional leaders reported Thursday.

Step away from the keyboard and take a breath. And think logically.

Why on earth would President Obama, while in a position of negotiating power as can be proven by poll after poll, just decide to give up on tax revenue increases when he and the administration have stated unequivocally that any part of a "grand bargain" would have to include tax revenues?

After reading the article, it sounds like a fake story designed to sabotage talks and put President Obama on the defensive since he's been getting favorable poll numbers on this issue. No one is being quoted, no one is taking ownership of these rumors, yet everyone is asking about it. Funny that.

According to my reader, he heard Oregon Congressman Pete DeFazio on the Thom Hartmann Show today tell Hartmann that Jared Bernstein had said the White House is catering to the independent voters who are worried mostly about the deficit, so there will be some cuts to "The Big Three," namely Medicaid, Medicare and Social Security "because Obama doesn't care where the money comes from." Of course, DeFazio wasn't at that meeting, and frankly, though I like DeFazio, that story sounds like a bowl full of shit to me.

News to DeFazio and anyone else not paying attention: the White House already has the independent vote. Independents don't trust the GOP led House in Congress.

Since the beginning of these talks, there has never been a time when the President or any of the White House spokesmen have ever denied that a grand bargain would include looking at restructuring Medicare and Social Security to strengthen them for future generations without making cuts to benefits. How this is interpreted at cuts is beyond me. Does cutting money to Medicare (like the ACA did by $500 billion in terms of fraud and abuse) equal automatic cuts in benefits?

From teabaggers to firebaggers, how does anyone know that this is the super secret "Obama wants to be Reagan" position without details? And how do you assume that position when everything you've heard from the White House is contrary to that line of thinking? When the fact that anything that would resemble trying to pass $3 Trillion in cuts with no revenue increases would never, ever pass in Congress?

But hey, this story did the job that it was supposed to. It filled another news cycle on a stalled story and caused the collective freakout of the MSM, the professional left, the Democratic politicians in Congress and the Twitterverse. It took the beltway insiders by storm. It caused President Obama to call a meeting of Democratic leaders of Congress - all based on a rumor.

Today's WTF Moment: Don't Touch Medicare Say GOP Voters

Government spends too much. We have to cut, cut cut! Well, what do we cut?
From Steve Benen:

...a new Marist poll out today... asked respondents:

"Do you support or oppose doing each of the following to deal with the federal budget deficit: cut Medicare and Medicaid?"

Among all registered voters, 80% opposed these cuts. Among self-identified Tea Party supporters, 70% opposed these cuts. Among self-identified Republicans, 73% opposed these cuts.

80% of registered voters and even 70% of self-proclaimed Tea Partiers who think the government spends too much oppose cuts in those socialist health care programs! So, to whom then, are GOP politicians catering? Who are they representing? Someone had better tell Paul Ryan to keep his government hands off Medicare.

And yes, you can say all you want that under the Ryan plan Medicare won't be touched for those 55 and older, but does that really matter? What about people who are 54½? Or 53? Provided they've worked steadily since college (or high school), they've paid into Medicare for over 30 years with the promise that it would be there in their retirement. These people who wouldn't qualify due to some arbitrary pencil pusher's number will still continue to pay into Medicare for a minimum of another 10 years until they retire. Do they not count?

Well, I would hope that this poll will be shouted from the rooftops by every Democrat in office to show the absurdity of the Ryan proposal and what it will do to the social safety net that has been promised to the American people by its government.

Speaker John Boehner made it a quick talking point after the 2010 election that they were sent to DC "to do the people's work." Now that they see that 80% of "the people" and ¾ of "his people" don't want their Medicare cut, will he be so quick to scrap it from their budget proposal?

President Obama's Weekly Address - April 16, 2011

America’s Fiscal Future

President Obama's Budget Address

The Country We Believe In

The REAL CBO Report

According to Think Progress, this much ballyhooed Congressional Budget Office report that was used to criticize the Obama Recovery Bill by Republicans was cited 81 times in the last six days by the talking heads on television and in print; they criticized that spending was initally slow and that only 35% of the package would be spent by 2011.

There's just one problem with that: the CBO report they were citing doesn't exist. Rather, the media and Republican opposition to the bill were citing a partial report that didn't include the planned tax cuts, unemployment benefit extensions and numerous other factors. Even after Press Secretary Robert Gibbs explained that everyone was citing an incomplete report in his press conference on Friday, inaccurate reporting continued on the news.

New Meet The Press host David Gregory used the CBO report in criticism on Sunday morning and I personally witnessed Nora O'Donnell on MSNBC ask about the partial report when questioning Congressman Chris Van Hollen late Monday afternoon! But I suppose if it isn't scandalous it doesn't sell, so why bother with accuracy?

Well guess what? The CBO actually released a complete report Monday evening which shows that, just as the Obama administration has been saying, about ¾ of the stimulus package would be injected into the economy within the first 18 months.

From the CBO report (emphasis mine):

This is the first cost estimate that CBO has prepared for H.R. 1 in its entirety. A previous preliminary estimate that has been widely cited addressed only the budgetary impacts of an earlier version of the provisions contained in Division A, at the request of the House Committee on Appropriations.

CBO has since made small changes to our estimates of the portion of the bill that was included in that preliminary estimate, mostly to reflect amendments to the legislation since we prepared the last estimate. Based on information provided by the committee and discussions with numerous state officials, we also made small technical changes to that earlier estimate.

I wonder how quickly the very serious mainstream media will report on this, and if they'll mention it 81 times in six days? I'm also sure the GOP will ignore it while tending to their fudge, since it doesn't fit into their agenda.

I mean, think about it. All we've heard the latest cheap Republican talking point is the expenditure of $200 million for Medicaid to be used for contraception and all the hysteria from the right asking how something like that can stimulate the economy. They are completely ignoring the fact that education, prevention of STDs and unwanted pregnancies can help in reducing governmental financial responsibilities later on. But the word "contraception" is a touchstone for their religious right base, even though the money planned for this program is only 0.00024% of the total package.

What's the GOP solution? More tax cuts. You know, because it's worked so well before.

(H/T Bob Cesca)