President Barack Obama’s misdiagnosis of America’s economic problems alarms U.S. Sen. Bob Corker, R-Tenn.
He cited the president’s suggestion that raising taxes on corporate jets could be a serious part of the solution to our devastating national debt. That’s ludicrous in the face of our massive debt. It’s estimated that such a tax increase would generate only one-tenth of 1 percent of the deficit reduction that the president says he wants.
“If you look at the kind of things that are being thrown out, they go almost nowhere at solving the problem,” Corker said. “Talking about taxes on corporate jets? I mean, you’ve got to be kidding me. We’re talking about trillions and trillions of dollars … .”
The senator said the president’s Wednesday news conference was “political theater,” and he expects “there will be no grand bargain” between Democrats and Republicans on the question of raising the debt limit.
Corker is being realistic and responsible. The president and many members of Congress are not.