It can really start to get tricky after this purported deal. Obama really tried to get something substantive, but Republican pressure is great and they will soon possess the decisive Vote. Obama has repeatedly refused to take it to the people, making preemptive deals with the Opposition before Grass Roots Democrats had a chance to voice their Opinion. The Owner of a Fighter in Boxing should not declare the Opponent the likely Victor before the Match. It is not conducive to a helpful outcome. Obama and Capital Democrats do not understand the basic doctrine of Politics, which is a battle to the end. Democrats want to avoid the appearance of defeat, but they should really tell Republicans to bring it on! A battle royale insists that both Sides commit their full array of power, and the Opposition gets to witness their true agenda. I am quite sure that the Populace would be greatly interested in full revelation.
Paul Krugman stands quite Right on this one! The implications of a further reduction of federal tax revenues, with an increase in federal Spending, will be an absolute disaster for World financial markets. And this is exactly what the Deal will accomplish. The Lobbyists demand for further Tax Savings will break the Camel’s back. I predict that the bond markets will start to collapse somewhere early in the new year, as first indications of reduced tax revenues appear. The Beltway may be dense and half-blind, but they will notice when they land on the Street.
I will let my Readers view this Piece from the source. Ask how the new Deal will affect the events described in the Post, remembering Expenditures for the fiscal year have already exceeded tax revenues by $283 billion. Notice that Corporations received more refunds than made payments in this Period, and the Deal would ensure that such a condition will continue for the rest of the fiscal year. Obama and the White House were vitally concerned with hiding the impact of the Inflation which is not supposed to exist according to the Fed, but which does; this is the reason for the cut in Payroll taxes, there being no real advantage for Labor. The Democrats at the Capital level gave away the entire Store with nothing for the Hinterland. Get set for the worst Recession since the Great Depression. lgl