Quote:
President Barack Obama announced an agreement with congressional Republicans Monday night to extend the Bush-era tax cuts to all Americans for two years — including wealthier families — but it still faced serious opposition from many in the Democratic Party.
The deal also includes a payroll tax cut for workers in 2011 — trimming the Social Security tax rate by 2 percentage points and saving $1,400 for a family earning $70,000. Republicans would agree to renew jobless benefits for an additional 13 months without paying for them, which the GOP views as a significant concession.
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Read more:
http://www.politico.com/news/stories...#ixzz17QknZeUU
So more spending to go along with tax cuts... good lord no one ever learns, do they? The worst part is the jobless aid could simply be taken directly from money that has already been appropriated but not spent. And only for two years. How do companies financially plan for only two years out? They're going to start making adjustments NOW if they can, if they haven't done so already, and this only delays the pain to dividends and capital gains.
This isn't governance... its pure politics on both sides and shows exactly why there is so much distrust for government.
EDIT: Sorry, the bill would be about $800 Billion, unpaid. Far more than the unspent moneys from stimulus.
Same as it ever was...
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