Skip to comments.Live Thread: Obama Statement on His Caving on Extending Bush Tax Rates (Apprx. 6 p.m. EST 12/06/10)
Posted on 12/06/2010 3:38:58 PM PST by kristinn
Obama will be speaking to the nation shortly to put the best spin on his caving in to the Republicans on extending the Bush tax rates. The cable networks are standing by to cover it live.
Here's a teaser from CNN on the deal:
President Barack Obama presented congressional Democratic leaders Monday with a proposed deal with Republicans that would extend Bush-era tax cuts for two years and unemployment benefits for 13 months while also setting the estate tax at 35% for two years on inheritances worth more than $5 million, a senior Democratic source told CNN.
The deal also includes a temporary 2% reduction in the payroll tax to replace Obama's "making work pay" tax credit from the 2009 economic stimulus package for lower-income Americans, the senior Democratic source said. As currently crafted, the deal would prohibit amendments by either party, according to the source, who spoke on condition of not being identified by name.
According to the senior Democratic source, Obama and Biden told the congressional Democrats that the proposed deal was the best they could expect.
Oh to be a fly on the wall at DU!
Nice summary. Zero blinked!
Must be real anxious to get to Hawaii on his fabulous fun packed vacation on our dime.
Just saw it is delayed until 7PM.
(He is adding the tax cut of the already broke social security plan to save us all.) $800 for a 40K a year worker
So Axelrod is typing the load of crap into the teleprompter.
If reporters ask questions it will be to ask him how his lip is doing and where he will vacation next.
I can live with that—though I don’t like the amount of time left for other mischief in the lame duck session. I don’t think the Dems would have come to terms like this so quickly if they didn’t think they could slip START, at least—but please let’s hope not the DREAM Act too—in before the new Congress.
Gee, I wonder what Obama has against Chelsea Clinton and Amee Carter.
That estate tax is sooooo wrong. It belongs to the heirs...not the government....just like SS belongs to the heirs...not the government.
13 more months of unemployment insurance? I’d say the Republicans blinked too....
This doesn’t extend UI past 99 weeks does it?
I asked this in another thread and am still not sure of the answer. I can see maybe doing a UI extension past 26 weeks, but no way in hell should this be extended out past 99 weeks. It is bad enough UI has become a near 2 year welfare program, any longer and we are literally encouraging people to just stay home and play video games forever.
Or they'd better be. This'll turn more than a few liberal democrat faces purple.
Of course they did, but thats not exactly news.
I don’t see how this is a win for our side. Thirteen more months of UI, definitely not cutting any spending. This govt. is out of control.
Outrageous and damn foolish.
Also this leaves plenty of time for DATD and START.
I can barely stand to listen to the Marxist.
I hear the politics in that statement but while Obama is making sure a lot have no jobs and 10’s of thousands from his ban on drilling I think people should eat while the democrats destroy this country.
Obama has gone too far. People have to eat and pay they’re electric bills.
In other words, they pissed on our legs and told us it’s raining.
Sounds like Ozero bagged the pubs..HAVE you seen DRUDGE??A sly calculated move?
I am in permanent ::Facepalm:: mode with this speech.
No he didn’t “blink.” Two years is the worst possible outcome...even worse than letting the taxes go up for everybody.
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