Obama’s Fiscal Cliff Deal

 

TOM COLE: Again, I would prefer not to raise taxes on anybody. But we protected almost every American. We did it at a higher income level than the President campaigned on. And again, frankly, we’ve denied him I think his most important piece of leverage in any negotiation going forward. So I particularly like that part. I understand unemployment extension. I prefer, you know, a more focused effort in that regard. But we do have parts of the country where that’s necessary and it’s a fair compromise. The entitlement issue, just too much to deal with I think in one piece of legislation. But again, still sequester is in front of us. The continuing resolution runs out the end of march and obviously the debt ceiling. All of those things honestly are Republican leverage not Democratic so I think there will be opportunities to deal with the spending issue next year. Honestly I expect that will be the dominant issue along with trying to overhaul the tax code going forward. So that’s usually pretty good ground for Republicans…

http://www.informationclearinghouse.info/article33499.htm

Related:

The American People are the Big Losers In The Cliff Deal

The “fiscal cliff” deal will raise taxes for 77% of the American public.

It will add $4 trillion dollars to the deficit over the next 10 years.

It will create a drag on the economy equal to 1% of the gross domestic product.

It creates uncertainty in the following areas:

A) the debt limit, B) the sequestered amounts, C) cuts in entitlement spending, D) additional taxes and don’t forget E) the President needs another Continuing Resolution (CR) to keep the lights on.

Blackrock’s Larry Fink is correct when he says:

The American People are the Big Losers In The Cliff Deal.

Who benefits?…

http://www.washingtonsblog.com/2013/01/the-american-people-are-the-big-losers-in-the-cliff-deal.html

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