Tuesday, June 23, 2009

Pete Peterson on CNBC

Pete Peterson spoke to Melissa Francis. He anticipates a $2 trillion deficit next year. Peterson had more questions than answers. He mentioned engorged entitlements, but not the wealthy paying even a smidgen more in taxes.

This is the man Tim Geithner and Barack Obama hold up as their deficit hawk. Pete spread the fiction of the public "not paying anything" for health care. He failed to mention premium sharing, soaring deductibles and co-payments.

He proposed a Grand Bargain to get America's financial house in order. With the super-wealthy kicking and screaming over taxing carried interest as income, it's a safe bet who'll win the grand bargain, wealthy campaign donors or the Pete Peterson's of the world.