Obama Speaks on the Economy

by Jillian Kay Melchior

In a very brief speech this afternoon, President Obama addressed the economy and the fiscal cliff.

He promised to listen to all points of view and pursue compromise—and then outlined the ways in which he would not yield.

“I’m committed to solving our fiscal challenges,” Obama said. “But I refuse to accept any approach that isn’t balanced.”

And that so-called “balanced” approach, by his definition, includes the same policies he’s proposed in his umpteen other speeches on the economy: subsidies for manufacturing, research and development, higher education and renewable energy. He seemed especially intractable on tax hikes for the “wealthy,” a rather broadly defined term.

(Presuming the president wasn’t taking a cue from Elizabeth Warren, it’s safe to assume his address was so brief because these are all old ideas.)

“All we need is action from the House,” Obama said, a stab at the Republicans who find such non-centrist policies unpalatable.

And so begins the gridlock . . .

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