Update below: Online petition calls for mayor to resign from Fix the Debt. Villaraigosa responds.
That last part makes no sense in terms of the group's ostensible mission, but makes perfect sense if you look at the array of big corporations, from Goldman Sachs to the UnitedHealth Group, that are involved in the effort and would benefit from tax cuts. Hey, sacrifice is for the little people.
In the same vein, Matt Yglesias argues at Slate that Fix the Debt is not really that concerned about fixing the debt: “What they believe in, instead, is the overwhelming importance of rate-cutting tax reform and reduced spending on retirement programs.”
“Fix the Debt's plan includes major cuts to Social Security and Medicare while cutting taxes for millionaires and billionaires. This approach is not balanced and it is unfair to people like me. Expecting us to give up essential portions of our social safety net to give the wealthiest more tax breaks is wrong.”
As a progressive Democrat, I joined the Campaign to Fix the Debt because Democrats and Republicans need to come together to find a balanced approach to our fiscal future.
We need job-creating investments in our nation's infrastructure.
We need to ensure a safe and secure retirement for all Americans.
We need to preserve the social safety net for the most vulnerable.
We need to demand that the wealthiest Americans pay their fair share.
That's why I join President Obama in advocating a balanced approach that includes spending cuts and letting the Bush tax cuts expire for the top two percent of Americans.
But I also believe that there are tough decisions ahead and the only way that we are going to find long-term solutions is by stepping out of our ideological boxes and reaching out to a broader coalition to get something done.