Barack Obama & Democrats Drop Millionaires Paying for Extending the Payroll Tax Cut (Update: $1 Trillion Spending Agreement Reached for 2012)
Big Obama and Democrat concession on payroll tax cuts …
What can only be described as a victory by Congressional Republicans and a blow to President Barack Obama and Senate Democrats, Obama and Democrats cave on charging millionaires to pay for extending the payroll tax cut. Controlling just the House, Republicans are dictating the narrative as Obama and Dems caved, some are not surprised and upset with Obama and his Democrat minions. However, what do you expect, the GOP has been saying this for 3 years, Obama is no leader.
In what would be a major concession, President Obama and Senate Democrats will drop their insistence that a surtax on millionaires pay for extending the payroll tax cut, a Democratic source tells CNN. This would be part of a new Democratic offer.
On another note, will the government shut down? Signs point to no, there will most likely be a last second deal avoiding a shutdown.
UPDATE I: Just as we predicted above, there will be no shut down of the government, Congressional leaders reach spending deal to avoid government shutdown. Does Obama now have his excuse to head to Hawaii?
One Trillion Dollars!!!
Congressional negotiators signed off Thursday evening on a $1 trillion spending agreement for 2012 for federal agencies, barely 27 hours before a deadline that could have led to a government shutdown.
After dropping minor policy prescriptions that President Obama opposed, members of the House and Senate Appropriations Committees gave final approval to the plan after a four-day standoff related to Obama’s demands to extend the payroll tax holiday for 160 million workers.
I’m glad to see that Congress got the message from “we the people” in stop spending money, NOT! Like the Lonely Conservative, I am ill as well. This Congress just does not get it and the reason why I say, they and this President get no tax increases to seal with any deficit. They have shown that they are all incapable of reducing spending and the burden on the American people. The 2012 elections cannot come fast enough and do not be surprised if Democrats lose control of the presidency and the Senate … also, establishment Republicans lose as well and some in positions of power are not there after 2012. Enough is enough.