June 23rd, 2011
Ryan Witt writes for The Washington Examiner:
"President Obama is generally considered the favorite to win re-election in 2012, as he consistently leads all Republican candidates in the polls, but there are some who believe the President could still be vulnerable if the economy continues to weaken. Today Talking Points Memo reported that Senate Democrats accused the Republicans of purposefully blocking any measures to improve the economy in order to better their chances of beating Obama in 2012.
To support their case the Democrats point to the most recent debt ceiling negotiations. The Democrats have proposed a temporary reduction in the payroll tax, which would theoretically free up more money and generate some more economic growth. Democrats generally favor more direct economic investment, such as spending for infrastructure projects, but were willing to meet the Republicans on their terms by proposing a tax cut.
Democrats had assumed that the Republicans, who generally have never met a tax cut they did not like, would accept the measure. However, the Republicans have said they oppose the temporary tax cut as a "gimmick." The Republican position has caused Senator Chuck Schumer (D-NY) to make the following bold accusation against Republicans,
"Would Republicans really oppose a tax cut for business that created jobs? This is sort of beyond the pale. So if they'd oppose even something so suited to their tastes ideologically, it shows that they're just opposing anything that would help create jobs. It almost makes you wonder if they aren’t trying to slow down the economic recovery for political gain."
With all due respect and in consideration of the fact that the single largest barrier to domestic growth currently is demand, there's no "almost" about it.