Here are today’s must read opinion and editorial columns.
OBAMA’S ORIGINAL SIN BY FRANK RICH
NEW YORK MAGAZINE
Obama arrives at his reelection campaign not merely with a weak performance on Wall Street crime enforcement and reform but also with a scattershot record (at best) of focusing on the main concern of Main Street: joblessness. One is a consequence of the other. His failure to push back against the financial sector, sparing it any responsibility for the economy it tanked, empowered it to roll over his agenda with its own. He has come across as favoring the financial elite over the stranded middle class even if, in his heart of hearts, he does not.
A DEBT-LIMIT BREAKOUT EDITORIAL
WALL STREET JOURNAL
Where there’s political self-interest there’s always a way. Both sides could agree to a short-term debt-limit reprieve of a month or two with some spending cuts that everyone agrees on. That would give them more time to cut a larger deal that includes corporate tax reform. Think about it. On the current path both sides are headed at best for a de minimis deal that makes everyone look bad, at worst for a major political crack-up. Perhaps Mr. Obama wants a crack-up to portray Republicans as extreme. But Republicans should at least call his bluff and answer his demands for fewer business tax deductions by saying yes—in return for lower tax rates.