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Tuesday, December 07, 2010

Griper Blade: A Democratic Filibuster?

Jimmy Stewart's filibuster scene from 'Mr. Smith Goes to Washington'
We have a deal on extending Bush's big tax giveaway to the wealthy. We'll continue to borrow money to cover a tax break for those who don't need one for the next two years, because it's so damned much better reach an unwise compromise than it is to fight for the right thing. Now Republicans will be allowed to continue to expand the deficit -- while blaming Obama and Democrats for growing deficits. It's frustrating that no one in the White House seems to see that coming.

Let's be clear; compromise for the sake of compromise is pointless. On any economic issue, one group will be right and one group will be wrong -- or, at least, more right and more wrong. Compromise insures that bad ideas from the cult of the wrong find their way into the final product. As a result, the "solution" is no solution at all. It's just not completely wrong. When you meet someone who's crazy halfway, the result is halfway crazy.

What do Democrats get out of this? More than we expected, frankly. We get an extension of unemployment benefits and we get payroll tax cuts -- the latter seems to have come out of the blue and will help the lowest income workers. If you don't get paid enough to have taxable income, you'll still get a tax break. There's an obvious Keynesian effect from this...[CLICK TO READ FULL POST]

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