Obama's outgoing Treasury Secretary assesses populism, Paul Ryan, and his work during the financial crisis.
There’s a great fiscal debate in Washington, and George W. Bush is winning it. In 2008, Barack Obama campaigned on a pledge not to reverse Bush’s tax cuts for the bottom 98 percent of taxpayers, a promise he has worked hard to honor. That locked in 80 percent of the Bush-era revenue losses. During the current negotiations, Obama’s initial offer includes $1.6 billion in new revenue over 10 years, which would leave intact about 60 percent of Bush’s tax cuts.
Republicans want to cut Medicare and Medicaid to help reduce the deficit. Why not wait and see if Obamacare accomplishes exactly that?