President Obama to make remarks on tax cuts and unemployment insurance at 6:10 pm ET

[Tx4obama]

Source: NBC / White House

6:10pm ET - President Obama Speaks on Tax Cuts and Unemployment Insurance
Watch Live http://www.whitehouse.gov/live

Read more: http://www.whitehouse.gov/live

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UPDATE - BREAKING: Obama Announces Tax Deal with GOP

(CNN)–President Barack Obama on Monday announced a deal with congressional Republicans that would extend extend Bush-era tax cuts for two years and unemployment benefits for 13 months while also lowering the payroll tax by 2 percentage points for a year.

http://politicalticker.blogs.cnn.com/2010/12/06/breaking-obama-announces-tax-deal-with-gop/

[gateley]

1. Thanks! nt

[indimuse]

2. Watching Ed...waitnig.

I don't feel so good! ;(

[Frisbee]

3. For those pressed for time, here's the Cliff Notes version.

"I caved".

[cutlassmama]

4. Thanks. Cliff notes are always helpful.

:D

[snappyturtle]

5. Thanks, I guess. Why am I not surprised. He needed to do this

on national teevee? I am so enraged....when will politicians ever live up to their campaign promises?

Thanks for posting.

[ElsewheresDaughter]

6. They can NOT be trusted Mr President..they hate you and we can now kiss SS, & education goodbye...

oh and the unions goodbye...they whooped your ass real good, Sir!

[onethatcares]

7. make remarks??????

what's he gonna say? "I'm sorry I couldn't produce on this because they had an overwhelming election in November".

Jeeeezzzzzuuuuuzzzzzz, what does he think we had going into his inaugural?

We're fucked.

[sirthomas66]

8. If this goes through, it will be the beginning of the end of Social

Security. If decreased amounts are not replenished, whether they are carried forward or not, the payouts will be reduced for both current (next year) and future retirees. Want to verify that? As someone on Social Security to compare this year's payout with what will be forecast in next year's SS statement. This is a trick. The catfood commission failed at reducing SS; this is the replacement program.

[onethatcares]

10. I'm not following that train of thought, seriously

if the tax cut don't expire for anyone over the next two years, what is the tie in to SocialSecurity? I'm not being snarky but asking a question that I don't know the answer to.
I do realize the overlords would like to see us peons scrabbbling for crumbs, that's a gimme.

I JUST DON'T UNDERSTAND WHAT HAPPENED WITH THE GUY THAT I VOTED FOR. I JUST DON'T UNDERSTAND WHAT HE'S THINKING>

[sirthomas66]

11. If Social Security is reduced from 6.2 to 4.2 per cent, that is a reduction

of about 800.00 a year in SS payments on 40,000.00 of income. Double that on 80,000.00. How will this amount get replenished? If the SS account is not replenished then that will be less for future retirees counting on Social Security. Say you are 40 now making 40 grand a year. Was is the future value of that 800.00 over 25 or more years. Do you think the person getting more money (taxable) because his/her SS is reduced will save this money? No, they won't. Do the math. You want to check it out. Find someone ready to collect social security in 20 years. Ask to see this years SS year-end statement. Then look at the statement at the end of the year after the reduced SS payment has gone into effect. Look at the anticipated income on the two statement. Next years will be less. Obama is trying to backdoor reducing social security. The catfood commission couldn't do it, so he is trying something different.

[Tx4obama]

14. They said on the news the difference will be made up out of the general funds. n/t

[sirthomas66]

15. I can't find any mention of that.......

ddd

[Tx4obama]

17. I heard it earlier on either MSNBC or CNN, can't remember which. n/t

[sarcasmo]

9. How did the guy I voted for two years ago with so much hope turn into a DINO!

[Iowa]

12. He was a DINO two years ago...

[ClutchCargo1957]

13. Who cares? Obama has lost My vote tonight.

The man is a total Wus. He has no backbone. He makes Pelosi and Reid look like Mohammad Ali.

[Skittles]

18. you are not fooling anyone

[hollowdweller]

16. I'm so tired of Obama

I'm really willing to give him till 2012, but at this point I'm ready for the GOP to take the presidency again.

I think Obama is sort of a Manchurian republican.

Clinton did a lot of conservative things but there were bright spots. Every time I read some headline about Obama now there's never a bright spot. Just more let down.

I think the GOP screwed it up so late in the game that it stuck to the Dems. I think maybe they need it again so it will stick to them.