America…Sold Down the River on Debt Deal

Thanks President Obama – for selling America down the river…

Again.

All bow down at the altar of conservative intransigence.

What next? You going to cave on bringing back slavery?

To Escape Chaos, a Terrible Deal

There is little to like about the tentative agreement between Congressional leaders and the White House except that it happened at all. The deal would avert a catastrophic government default, immediately and probably through the end of 2012. The rest of it is a nearly complete capitulation to the hostage-taking demands of Republican extremists. It will hurt programs for the middle class and poor, and hinder an economic recovery.

It is not yet set in stone, and there may still be time to make it better. But in the end, most Democrats will have no choice but to swallow their fury, accept the deal, and, we hope, fight harder the next time.

For weeks, ever since House Republicans said they would not raise the nation’s debt ceiling without huge spending cuts, Democrats have held out for a few basic principles. There must be new tax revenues in the mix so that the wealthy bear a share of the burden and Medicare cannot be affected.

Those principles were discarded to get a deal that cuts about $2.5 trillion from the deficit over a decade. The first $900 billion to a trillion will come directly from domestic discretionary programs (about a third of it from the Pentagon) and will include no new revenues. The next $1.5 trillion will be determined by a “supercommittee” of 12 lawmakers that could recommend revenues, but is unlikely to do so since half its members will be Republicans…

This for you, President Obama. Buy your own damn gold frame…

Official President Obama Yellowback Donkey Award

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5 Responses

  1. Speechless…

  2. I’m expecting a bump in the stock market Monday, which I believe is really the president’s highest priority.

    However, nothing he can do will create enough long-term jobs to support the standard of living to which Americans are accustomed, and favorable tax laws have absolutely no direct bearing on job creation. Job creators are going to make jobs according to the dictates of business, and will deal with the tax implication. To say that there is a correlation between tax cuts and job creation has not been shown to be demonstrably true.

  3. They even eliminated subsidized student loans. Not one word about salaries and benefits of members of congress, the judiciary or executive branch.

    Hell, there was even $4 billion in credit default swaps traded on the notion of a fed default, yet nothing to reign in the money-changers.

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