The Taxation of Capital Income
If the Committee for a Reponsible Federal Budget Were in Fact a Committee for a Responsible Budget, at the Top of Their Website Would Be the Declaration: President Barack Obama's Proposals Are the Most Fiscally Responsible

Greg Sargent Says That President Obama Has Eaten His Wheaties This Morning...

Greg Sargent:

Obama hits Romney with withering mockery as he makes case for reelectiont: In a speech to the United Auto Workers just now, Obama defended his decision to bail out the auto industry, lacing into Mitt Romney with withering derision. But this speech was about more than the auto-bailout. It was Obama’s case for reelection…. [T]oday’s speech… revealed that the alternate reality Romney has been functioning in throughout the GOP primary is soon going to give way to another reality entirely, a general election reality — and Romney, presuming he will be the nominee, will soon collide with it.

In recent days, that alternate reality has meant that Romney has been speaking to audiences who nod along when he tells them that he got the auto-bailout right, even though he predicted that it would lead to the auto industry’s demise….

Things will soon change rather abruptly.

In his speech, Obama… went out of his way to ridicule [Romney's] justifications for opposing the auto-bailout and his current dissembling….

I keep on hearing these same folks talk about values all the time. You want to talk about values? Hard work: That’s a value. Looking out for one another: That’s a value. The idea that we’re all in it together and I’m my brother’s and sister’s keeper: That’s a value.

Obama used the auto-bailout argument as a jumping off point for his larger case: That Democrats and Republicans have fundamental ideological differences over government’s role in stepping in and protecting working people and ordinary Americans against the depredations and excesses of unfettered free market capitalism, and that this all flows from a difference over moral values and priorities….

[W]hat you’ve just seen is a preview of how aggressive a bid Obama will make to ensure that the general-election debate over the auto-bailout plays out his way.