Oh, yeah. Made a deal with the Republicans to extend tax cuts if they would agree to extend unemployment benefits. What an excellent deal! We are so lucky to have such a forward thinking president!
Even though Democrats will control both houses of Congress until January, Obama insisted the deal was necessary to ensure enough Republican support in Congress to extend unemployment benefits that also are about to expire, and he said a long, bloody battle with the GOP would be detrimental to recession-weary Americans.
“This isn’t an abstract debate. This is real money for real people,” he said. “This package will help strengthen the recovery. That I’m confident about.”
Obama called the news conference in the face of Democratic criticism of the agreement, which still needs House and Senate approval.
It was part of a full-scale defense, with the White House arguing the deal would pump billions into the economy at a time it is recovering from the worst recession in eight decades and unemployment stands at 9.8 percent.
The plan calls for extending tax cuts from the Bush era that are due to expire at year’s end, renewing jobless benefits through the end of 2011 and granting a one-year cut in Social Security taxes. Several officials said the package could add $900 billion or more to the federal deficit over two years.
Obama said he expects the unemployment rate to go down because of the compromise, although he would not predict by how much.
Really? And how, exactly, does that work, Mr. President?
Had an argument today with a colleague about this very issue. It’s the same old tired, “well at least it isn’t John McCain and Barbie.” and “It’s not an easy job” and He’s doing the best he can under difficult circumstances”. (Those last two excuses work for Governor Paterson, but not for President Obama). Somebody tell me, please, how it would have been so much different under a Republican administration. Have we closed Gitmo? Did we lead in Copenhagen? Do we have health care reform that was written by someone other that the health insurance companies themselves? Have we reversed DADT? Have we preserved Social Security for future generations? Have we scaled down the war in the middle east? Have we stopped spying on American citizens in the guise of national security? Has the Obama administration done anything about gun control? And last, but not least, before the off-shore drilling disaster in the gulf of Mexico, who had taken up the banner of “Drill, Baby, drill?”
Tom Degan from a recent Rant had this to say:
The policies of low taxation for the obscenely wealthy that have played so huge a part in our current economic catastrophe will be allowed to continue. The Republicans have made it abundantly clear that they plan to hold the government hostage unless the Bush tax cuts, scheduled to expire on the last day of this month, are allowed to be continued indefinitely. That means “forever”. It also means a loss of four trillion dollars in revenue over the next decade; a lousy deal any way you dice it or slice it. The president of the United States, far from being the Progressive warrior his base was praying for when we sent him to the White House two years ago, appears hellbent on caving into their demands. As Theodore Roosevelt once privately said of President McKinley, “He has all the backbone of a chocolate eclair”.
And Keith Olbermann sums it up quite nicely in his “Tax Cut Special Comment“(Listen to the whole thing when you can):
“It is not disloyalty to the Democratic party to tell a Democratic president he is wrong; it is not disloyalty to tell him he is goddamned wrong…it is not disloyalty to remind the President that he was elected by people to whom he had given a clear outline of what he would do for them, and if he does not steer out of the skid of what he is doing to them, he will not only not be re-elected, he may not even be re-nominated.”
I have nothing more to say.
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