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Peter Morici | Obama blackmails taxpayers while blaming Republicans

President Obama is at it again. Unable to manage the government or the  economy effectively, he threatens to victimize taxpayers and stick Republicans  with the blame.

It appears likely sequestration will require $85 billion in cuts to defense  and non-entitlement government spending.

Unwilling to acknowledge the government has a spending problem — over the  last five years, outlays are up $1 trillion and three times the amount required  by inflation — and that tax revenues are short because his policies have  instigated the weakest recovery since the Great Depression, President Obama is  threatening draconian measures if Republicans don’t agree to more taxes.


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