Theodore's World: An Angry Obama Endorses Compromise (alleged deal) About Taxes

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December 07, 2010

An Angry Obama Endorses Compromise (alleged deal) About Taxes


Obama and congressional Republicans have reached a tentative deal to extend the Bush tax cuts for all income levels.

His speech with filled with attacks on Republicans ( but of course he said all he could to attack only leaving out blaming President Bush once again).

In exchange, Republicans have agreed to extend unemployment insurance benefits for an additional 13 months.
The 56-week extension of unemployment benefits balloons the total period in which people are eligible to receive federal jobless benefits to 155 weeks. That's roughly three years.

Other details include a temporary two percent reduction in payroll taxes to replace Obama’s “Making Work Pay” tax credit from the 2009 stimulus bill, and a compromise on the estate tax, which will be set for two years at 35 percent, with a $5 million exemption amount.

Obama is facing a mounting insurrection from the Left:

Liberal New York Times columnist Frank Rich this weekend explained "the baffling Obama presidency" in part by arguing that Mr. Obama "has seemingly surrendered his once-considerable abilities to act, decide or think." The president's attempts to seek out compromise instead of holding fast to a position, he wrote, has rendered him "indistinct" and "weightless."

House Democrats are still emphasizing "there is no deal yet."

Some Republican response:

Michelle Bachmann said tying tax cut extensions to unfunded federal spending. Nothing in this alleged deal appears to paid for/offset by spending cuts elsewhere.

Posted by Wild Thing at December 7, 2010 02:55 AM


I knew that deal was coming, another 56 weeks of unemployment. They make it more profitable for people to stay home than work. We can't afford this either, but this should help bump the economy. There is a sour attitude out there on where we are headed as a country economically and it doesn't look good.

Posted by: Mark at December 7, 2010 07:56 AM

Posted by: Eddie (Enemy of the State) at December 7, 2010 01:26 PM

Wild Thing, I thought a 'few' months ago that US teabaggers were just a BUNCH OF FLAG WAVING LIGHTWEIGHTS, eh? Obamanation is down to less than 24 more months!


Posted by: darthcrUSAderworldtour07 at December 7, 2010 02:17 PM

Mark, I can feel it too.

Eddie, LOL that is so funny. I just shared it on Facebook, thank you soooo much.

Darth, yes the Tea party's did a lot of good, thank God!!!

Posted by: Wild Thing at December 7, 2010 11:47 PM