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Finally, Obama placed tax hikes for the rich at the very center of the debate, arguing that the “worst” thing about the GOP vision is this: “Even though we can’t afford to care for seniors and poor children, we can somehow afford more than $1 trillion in new tax breaks for the wealthy.”
There’s no ignoring the fact that such stirring rhetoric jars against Obama’s recent deal with Republicans to continue the tax cuts for the rich, and some will be understandably wary of his stated moral conviction about them. But the President did draw a sharp line — one that will be hard to climb down from — on the coming fight over whether to let them expire: “I refuse to renew them again.”
On entitlements, it’s true that Obama repeated the formulation — disliked on the left — that we will reform entitlements without “slashing” benefits for future generations, which leaves the door open to mere “cuts.” But Obama did draw a hard line on defending Medicare’s core mission, and crucially, he did so while reiterating the speech’s larger message, which was that the Democratic version of the social contract is inviolable.
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It was a great speech but, after seeing so many of Obama's promises left on the side of the campaign trail, after seeing him cave to the right on more than one occasion (whether from lack of a spine or by design), I'm taking a wait and see attitude. I'll be thrilled if he comes through and actually holds this high ground (as opposed to bargaining it away as soon as the Orange Boner opens his pie hole) but I'm not expecting miracles.
I quote my dear friend once again: "Talk, however, is cheap."
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