Obama's Debt-Reduction Plan: Has The Lion Found Courage?

Early reports of President Obama's debt-reduction bill reveal signs of courage in the proposal. According to the New York Times, for example, Obama has promised to veto any bill that does not include a tax increase. Also, the plan would increase taxes paid by the upper .03 percent of taxpayers. It would also allow the Bush-era tax cuts (extended by Congress during the Obama administration) to expire. Furthermore, conceding to the demands of liberals in Congress, Obama's plan does not include a change to the minimum age needed to qualify for Medicare or Social Security (see also, this article in the Washington Post).

Obama has frustrated many of his supporters by repeatedly conceding the center in his negotiations with Republicans and conservative Democrats. This proposal defies Republican threats and manages to deliver something that is worthy of support -- at least as the details have emerged so far.

I suspect that this plan has a lot to do with Obama's reelection bid than a sudden passion for more progressive economic policies. Well, politics is not for the faint of heart of the idealistic. Stay tuned for more updates.

UPDATE: Yes - he is in full-blown campaign mode. Too bad he does not exhibit such passion and leadership too often.