The White House and Senate have agreed to make the Bush tax cuts permanent for 99 percent of households, starving the federal government of funds. Even Mitt Romney could never have accomplished for the Republicans what Obama has just done for them. The Democrats in the Senate would have soundly rejected the plan if the Republicans had put it forward.
There has been a special absurdity to the entire negotiating process. Obama has insisted that his top aim is to protect Bush’s tax cuts for 98 percent of Americans. In the process he has lost sight of the even more basic need to protect the long-term finances of the federal government.
Read full article at the Huffington Post
- Climate Week in NYC 2012
- FT Letter: Timely warning on tax havens
- Event: Joe Scarborough and Jeffrey Sachs
- Discussion with Matthew Bishop at f.ounders
- Ending Malaria: Discussion with Justine Greening