Saturday, December 4, 2010

"Bush tax cuts? Not Without Unemployment Package in Exchange" says Obama

Sorry, Nothing Available With Santa.  This is Boxcar Bunny
 The Senate held two procedural votes on separate Democratic measures designed to extend the George W.-era tax cuts for middle income wage earners. The first vote being for those earning under $250,000 and the second one being for those making under $1 million per year. Both failed to get the needed 60 votes, both only received 53.
In the House there was a minimum of trouble, they were able to pass a temporary extension earlier this week. But in the Senate, a handful of Democrats joined the Republicans, and to a man, the Senate Republicans blocked the measure that would have prevented the tax cuts on those earning under $250,000 from going away at the end of the year. Several senators are expecting that President Obama will finally agree to a deal with the Republicans sometime near the end of next week. The most probable of plans is one that would keep the tax cuts in place for everyone for between one and three years. This this is probably the only compromise that Republicans and some Democrats who think the economy would suffer will accept.

The Hostages
In exchange for giving in to their demands, Obama will probably ask for the Senate Republicans cooperation in getting both the nuclear arms treaty, and some sort of bill that would extend unemployment benefits. The President said “It is absolutely essential — to our hardworking middle-class families and to our economy — to make sure that their taxes don’t go up on January 1st.” He went on to also suggest that the extension of unemployment insurance are already part of an ongoing negotiation with Senate Republicans. The President also said, “I continue to believe that it makes no sense to hold tax cuts for the middle class hostage to permanent tax cuts for the wealthiest 2 percent of Americans,especially when those high-income tax cuts would cost an additional $700 billion that we don’t have.” But the Republicans have also found another hostage, in the unemployed of the nation.

Mean while Delay Tactics By Pelosi May be delayed themselves as Friday is her hair appointment day, and we really, really want her to not miss that important event.

There is no evidence that these tax cuts created even a single job.
“Back when Bush was pushing his tax cut packages through Congress in 2001 and 2003, supporters said the cuts (which weren’t balanced with spending reductions) would initiate an era in which the American economy would grow so robustly the nation would be running a surplus of more than $5 trillion at the scheduled expiration date. U.S. now runs a deficit of about $1.3 trillion.

On the one hand they want to provide $700 billion in tax cuts for the wealthiest, but not pay for them. On the other hand they demand that unemployment benefits for the middle class be paid for. It’s kind of like someone on a diet ordering a Diet Coke and a Big Mac simultaneously.

Sen. Claire McCaskill (D-Mo.) said, “I’m trying to figure out how anyone can keep a straight face and say they’re for deficit reduction while they insist on a permanent tax cut for the wealthiest Americans, completely unpaid for,” The rich have HAD their tax cuts the whole time, where are those jobs they supposedly are going to create with their extra wealth they have been sitting on?

So do I or don't I get a break for Christmas with unemployment benefits.  I was wondering if I should pay the bills or by food.

Mr Obama, please let me know.

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