The House approved the $801 billion package of tax cuts last night and Obama is expected to sign it as soon as he puts on his back brace. (That’s the only way he can sit up since he lacks a spine.)
The tax bill will do little to stimulate the economy and will cost in two years what the stimulus bill cost for five years. It’s pure trickle-down-economics. Obama could have attached some conditions that would bring jobs back to the U.S. like tariffs and penalties for outsourcing jobs overseas, but that would have required a backbone. And what the hell is he doing negotiating with the Republicans anyway? It’s Congress’s job to author legislation!
The Democrats should have pushed through the middle class tax cuts with unemployment benefit extension as a take it or leave it proposal. Had the Republicans blocked it, they’d be responsible for our taxes going up. The huge deficits are now squarely on the presidents shoulders, and our country is so screwed.