Bill Clinton Backs Extension of Bush Tax Cuts
TPM’s D.C. Reporter Brian Beutler offers commentary on former President Bill Clinton’s backing an extension of the Bush Tax Cuts before the end of the fiscal year.
If you follow politics closely, you probably know by now that Bill Clinton broke dramatically with President Obama on Tuesday and recommended that all of the Bush tax cuts be extended. Permanently? For a few years? Who cares really. All that’s important is that Clinton said some thing that could be construed (if you squinted and cocked your head just so) as breaking from Obama on fiscal policy.
It started with a heavily promoted CNBC interview, Republican operatives pushed the suggestion aggressively, and by the end of the day we had stories like this one from the Chicago Tribune, headlined “Bill Clinton backs extending Bush tax cuts, for now,” distributed with atweet that read “Bill Clinton breaks from Obama, endorses Bush tax cuts.”
The liberal Citizens for Tax Justice has sounded the alarm, GOP House and Senate leaders held a press conference Wednesday, trying to isolate Obama, and suddenly it’s 2010 all over again and Dems are about to cave on demanding that the Bush tax cuts for high earners expire.