AEI’s Marc Thiessen, writing in The Washington Post has a history-based warning for President Obama and Democrats in relation to the “fiscal cliff:”
Obama thinks he has a lot more political capital than he really does. A White House official told Politico’s Mike Allen this weekend that the “President campaigned on this and won.” So what? In 2004, George W. Bush campaigned on Social Security reform and won. How far did that get him? Bush famously declared, “The people made it clear what they wanted. I earned capital in the campaign . . . and I intend to spend it.” He soon learned he had not earned as much political capital as he thought.
President Obama is about to learn a similar lesson. Exit polls show just 47 percent of the electorate would support raising taxes on the wealthy — not even a simple majority. When asked if “taxes should be raised to help cut the budget deficit,” 63 percent said “no.” And a 51 percent majority said “Government is doing too many things better left to businesses and individuals.” There is no public groundswell for massive tax increases or more government spending.
Democrats are making the classic Washington mistake of believing their own spin, when they should be heeding the drug dealer’s motto: “Don’t get high on your own supply.”
In 2005 Democrat’s played the obstructionist role on Social Security reform and were rewarded with historic mid-term wins in the House and Senate, taking control. The shoe is on the other foot this time…