One of the recurring topics during Obama’s speech to the Business Roundtable taking place today, aside from Obama’s clear revulsion against any sort of pessimistic thought – although we admit there is still time for an executive order that makes only Optimistic thought legal, or a brand new Federal Department of Optimism with a $1 trillion annual budget – has been Obama’s fear and loathing of another government shutdown. The issue, you see, is that Republicans are simply unwilling to compromise. Because, apparently, Obama is, about everything… except taxes, immigration or healthcare.
And while everyone knows Obama’s position and stance on everything which is either his way or the potholeway, here is how the other side sees Obama’s inability to lead, i.e., reach a consensus.
As The Hill reported, Sen. John Cornyn (R-Texas) blasted President Obama for killing a bipartisan tax deal. “The president seems to be positively allergic to compromise and good faith negotiations,” Cornyn said on the Senate floor Tuesday. “His actions are dividing the country.”
Senate Majority Leader Harry Reid (D-Nev.) and House leadership had negotiated a long-term deal to extend some tax breaks, but the president said the deal benefited only corporations instead of middle-class families.
Cornyn said this is just the latest example of Obama’s “take it or leave it” attitude.
Congress will now be forced to pass a one-year tax extension before the end of the year instead of dealing with the issue long-term.
Of course, nobody is worried that the government will actually do its job: after all there is a Fed to mask peak Congressional incompetence. One does wonder however, just which biotech stock is about to go up 2000% upon announcing it has found a way to cure Obama’s “compromise allergy.” Actually in retrospect, there is no risk of short being crushed by that particular announcement.
via Zero Hedge //feedproxy.google.com/~r/zerohedge/feed/~3/R54UgvNap1g/story01.htm Tyler Durden