CNBC host Maria Bartiromo went after Maryland Senator Ben Cardin on the air on Thursday (HT PJ Tatler; original here) after it became clear that Cardin and his fellow Democrats won't support any measure to prevent the fiscal cliff from arriving as currently scheduled on Janaury 1 which does not include increases in the highest marginal income-tax rates. At the end of her tirade, she got applause and cheers from those around her.
I'll give her one cheer for clearly exposing Democrats' "my way of the highway" approach. She missed the opportunity to get to three cheers because it seems that she's just now recognizing after all these months that Democrats, including President Obama, won't accept any kind of a solution that doesn't involve raising the top rates -- even though they've been saying that very thing all along. Far more important: Even if you believe that the tax hikes discussed will actually increase government collections by $1.2 trillion over ten years, that amount is a tiny percentage of the trillion-dollar deficits the government will continue to run as long as the economy putters along at its current mediocre to poor pace.