McCarthy sees a solution to the situation. Clinton and former Obama economic adviser Larry Summers have suggested that Washington extend the Bush tax cuts temporarily in order to prevent a slowdown. "You would have the biggest stimulus with no money being borrowed," McCarthy told me, and the president could promise tax reform next year -- if he's re-elected.
But it won't happen, because Obama puts all his energy not into fixing the economy but into raising campaign funds and blaming Republicans. "The president," McCarthy sighed, "he's done legislating."
Not The Onion: 'The Gov't Employees Can't Watch Porn At Work' Legislation Passes Oversight Committee | Leah Barkoukis
Latest: Germanwings Co-Pilot Suffered From "Illness," Ripped Up "Sick Notes" Day of Crash | Daniel Doherty