Former Bush administration economic policy official Keith Hennessey offers a scathing annotated version of President Obama's remarks yesterday about the sequester. Mr. Hennessey writes:
Here's the President's position, as best I can infer:
- Raising taxes to offset tax cuts: Bad;
- Raising taxes to reduce the deficit: Good but he's not proposing it;
- Raising taxes to increase spending: He's proposing it while pretending he's doing #2.