President Obama on payroll tax: Here they go again

[cal04]

http://thehill.com/video/administration/210099-obama-on-payroll-tax-fight-here-they-go-again

President Obama warned Saturday that Congress needs to avoid another political stalemate over extending the payroll tax holiday.

A short-term extension extending the payroll tax holiday, emergency unemployment benefits and a hike in Medicare doctor payments was passed in December after a tense political battle which ended with House Republicans caving. That extension expires March 1, and Republicans and Democrats have not yet agreed to a year-long extension.

"Now, if this sounds familiar, it’s because we’ve been here before; back in December, Congress faced this exact same predicament," Obama said in his weekly address. "We can’t go through that again."

(snip)
"I hope you’ll pick up the phone, send a tweet, write an email, and tell your representative that they should get this done before it gets too late," he said. "Tell them not to manufacture another needless standoff or crisis."

[dkf]

1. Well what did we expect? Honestly.

[MadHound]

2. It would be best to let the payroll tax cut expire,

It serves no purpose other than putting Social Security funding into the the political realm, and thus vulnerable to future cuts.

A big part of the reason why we're where we're at is because of tax cuts on top of tax cuts. More of the same won't lead to a solution.

[muriel_volestrangler]

3. If it does expire, it will cut consumer spending

which will threaten a still-fragile recovery.