I think Obama knows something about the economy the problem is he doesn’t know how to get what he wants or doesn’t have it in him to get what he wants from Republicans.
mikeofclearwater commented on the blog post Could House Dems Blow Up a Tax Deal? What About Senate Republicans?
As much as I disagree with any tax cut compromise I just read that Obama is now proposing a 1 year payroll and social security tax cut.
I am completely against extending the tax breaks for anyone much less for those making over $250k a year. I feel bad for the unemployed but extending these tax cuts is bad policy and to extend them for the wealthy especially, is catastrophic for the middle class down the road. Already the top 1% of the population controls about 24% of the country’s wealth and this proposal only makes the problem worse, not to mention the eventual slashing of middle class programs due to the lack of government revenue. Since the Republicans will not cooperate the only sane and logical thing to do is let the Bush era tax cuts expire.