On September 19 President Barack Obama announced his plan to reduce the deficit by $4 trillion over the next 12 years, including raising $1.5 trillion by closing special interest loopholes and other revenue raisers. This includes eliminating $41 billion in tax loopholes for the oil and gas industry (p. 63) over the next decade.
This is a repost of a tremendous article by a true political insider, on just how much the GOP is owned by large corporations and willing to hold the country hostage to accomplish a few societally unhelpful goals (with bolding added by me until the sections on the GOP’s principal tenets at the bottom):
I normally don’t do this, but this is a stellar post on politics in the U.S. from David Roberts of Grist, and you need to read the full thing, so I’m reposting it in whole. This is the story today. This is where we are and why we are so screwed. There are solutions. They are clear and what we promote here regularly, but they are not what Obama and Democratic leadership are pursuing.