WASHINGTON - The unwillingness of Republicans to raise taxes coupled with Democrats' unwillingness to cut taxes will cause a fierce battle next year, conservative analyst Patrick Buchanan told attendees at NAFCU's Congressional Caucus.
Buchanan, an aide to Presidents Nixon and Reagan, said the $13 trillion debt will make foreign creditors less willing to extend the nation further credit and this could further delay the recovery.
He contended that the sluggish economy and the unpopularity of the health bill--coupled with the GOP's return to its conservative roots--will help the party win control of the House. The Republicans should focus on criticizing Democrats rather than coming up with their own ideas, Buchanan said.
"They should stay on offense and keep moving," he added.
Buchanan said there are some solutions both parties could agree on: Cut federal spending and salaries and cut the number of military facilities abroad.
He also expressed empathy for the added regulatory burden credit unions have to face because of the recent financial overhaul.
"You are getting blamed as the accessories when this [financial meltdown] happened," he said.