Jonathan Cohn of The New Republic argued yesterday that President Barack Obama may well be done with the any notion of bipartisanship regarding cooperation with Republicans going forward, at least in the immediate future. As Cohn noted, "I think it's safe to say that President Obama has given up on bipartisanship, at least for the foreseeable future. ... Today, Obama is using the platform to remind people of what he wants to do for the country, as well as what he's already done, and why he thinks it's superior to the Republican approach."
Cohn is referring to a speech Obama gave today in Cleveland, Ohio, in which Obama was critical of economic proposals of House Minority Leader John Boehner. Boehner spoke in the same city a couple weeks ago on August 24.
Obama said Boehner offered "no new policies" and "no new ideas" but simply the same tired agenda that has already proven to be self-defeating. The idea, according to Boehner — and the idea doesn't seemed to have changed much since the days of Reagan - is that if we give tax breaks to wealthy folks, they will, in turn, spend more and spur the economy. But as I've maintained, wealthy people are wealthy for a reason. No, says, Robert McTeer, a blogger for Forbes, who noted that while rich people — here we are referring to people who make more than $250,000 (McTeer put the figure of $200,00, but that has never been the actual figure referred to by Obama regarding taxes) — may not spend as much in the "first round on consumption" they do put money into the economy in "later rounds on investment." But I don't see how investment expenditures in any way benefit small business owners and regular folks with normative-type businesses, such as the mom-and-pop retail store on Main Street, U.S.A.