Dumb and Dumber
The posturing on the left and the right regarding the Bush tax cut deal framework negotiated between President Obama and Republican congressional leadership has been something to behold.
Republican pundits immediately painted the compromise as capitulation on Obama's part, ostensibly declaring it his USS Missouri moment—unconditional surrender.
Simultaneously, the liberal base of the Democrat party went apoplectic over the idea of extending tax cuts for the "wealthy" (who, oh by the way, just happen to be the job creators). As usual, an opportunity to engage in class warfare trumps all for the Dems.
But, guess what? Both sides got it wrong.
The GOP, in its euphoria to claim victory and secure the tax cut extension, just happened to overlook that the deal represents hundreds of billions of dollars in new spending—similar to Obama's disastrously wasteful and ineffective first stimulus. Worse yet, the tax cut extension accounts for less than 40% of the total package. And, just as with Stimulus I, Stimulus II provides little certainty and no long term or permanent structural change. As such, it will be much, much less pro-growth-oriented than it could and should be.
The clueless left, in its Sisyphean effort to pull the wage earner up by dragging the wage payer down, has been largely oblivious to the fact that Obama managed to bargain for hundreds and hundreds of billions of dollars in new transfer payments—the lifeblood of all liberals.
One side too stupid to realize it lost. The other, too dumb to recognize it won.
Republican pundits immediately painted the compromise as capitulation on Obama's part, ostensibly declaring it his USS Missouri moment—unconditional surrender.
Simultaneously, the liberal base of the Democrat party went apoplectic over the idea of extending tax cuts for the "wealthy" (who, oh by the way, just happen to be the job creators). As usual, an opportunity to engage in class warfare trumps all for the Dems.
But, guess what? Both sides got it wrong.
The GOP, in its euphoria to claim victory and secure the tax cut extension, just happened to overlook that the deal represents hundreds of billions of dollars in new spending—similar to Obama's disastrously wasteful and ineffective first stimulus. Worse yet, the tax cut extension accounts for less than 40% of the total package. And, just as with Stimulus I, Stimulus II provides little certainty and no long term or permanent structural change. As such, it will be much, much less pro-growth-oriented than it could and should be.
The clueless left, in its Sisyphean effort to pull the wage earner up by dragging the wage payer down, has been largely oblivious to the fact that Obama managed to bargain for hundreds and hundreds of billions of dollars in new transfer payments—the lifeblood of all liberals.
One side too stupid to realize it lost. The other, too dumb to recognize it won.
Excellent assessment of the situation! Will be interesting to see if Boehner can create progress in addition to agenda (setting up for the 2012 election).
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Chuck, Man you got that right. I was sickened to the point of near nausea as I watched the Dear Leader's press conference as he characterized the idiotic GOP as hostage takers, meanwhile they were gloating at every podium they could find. I sent this article to everyone I could think of, because people have to realize what a crappy deal it is. I would have preferred they let the tax rates expire, even though it would mean a lot more taxes for me, just so the "middle class" could feel a little of the sting too. Maybe if they had a little more skin in the game, they would quit electing these assholes with their never ending promises for more and more entitlements. 1/3 of people find a new job within a week of their unemployment benefits expiring. 3 years of unemployment compensation is absolutely insane.
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Chuck,
Perfectly executed analysis of more "BELT WAY DEBAUCHERY". It's interesting that debate and debauchery live close to one another in the dictionary as well as in DC.
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