President Obama signs $858 billion measure that extends tax cuts for two years, unemployment benefit

[sabra]

Source: CNN

Breaking News > President Obama signs $858 billion measure that extends tax cuts for two years, unemployment benefits for 13 months.

Read more: http://www.cnn.com/

---

more:

http://www.cnn.com/2010/POLITICS/12/17/tax.deal/index.html?hpt=T1&iref=BN1

Washington (CNN) -- President Barack Obama on Friday signed an $858 billion tax bill into law, saying "this is progress and that's what they (the American people) sent us here to achieve."

"We are here with good news for the American people this holiday season," he said. "By a wide margin, both houses of Congress passed a package of tax relief that will protect the middle class, that will grow our economy and will create jobs for the American people."

Obama was flanked on stage by Democrats and Republicans -- including Senate Minority Leader Mitch McConnell, who was instrumental in getting the bipartisan legislation passed. Incoming House Speaker John Boehner, however, did not attend the bill signing.

The House of Representatives gave final approval late Thursday night to the deal, negotiated by the White House and top Senate Republicans. The final vote of 277-148 had almost equal numbers of Democrats and Republicans in support.

[aquart]

1. My mom says she'll never vote for him again.

Die hard Democrat. Left as they come. She calls him spaghetti because he's skinny and spineless.

[haikugal]

2. We can kiss our ass goodbye.

[totodeinhere]

4. I think that many people who say that now, and I understand why they are so frustrated,

will end up voting for Obama anyway in 2012. They will not vote for the Republican candidate.

[Name removed]

13. Deleted message

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[RC]

14. Or just not vote for either presidential candidate at all.

That's what I think will happen. And if Obama decides not to run, the DLC will supply us another clone that is lop-sided to the right.

[Frisbee]

18. And assuming Obama does run and win...

just how far right will he go when he knows he won't have to worry about reelection. Without fear of losing a second term, he may (I suspect will) veer even farther to the right. He will become a repuke in all but name.

[sirthomas66]

27. That is exactly what will happen.

[Name removed]

21. Deleted message

Message removed by moderator. Click here to review the message board rules.

[sirthomas66]

26. I think you are wrong. I know you are wrong in my neighborhood

who will have Fire Obama on every house but two by next week. Our monthly meeting will be next week. Usually about a third attend. This time I expect all to attend.

[Name removed]

28. Deleted message

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[Ticonderoga]

31. Which republican candidate would you be

referring to, Obama, or the other guy?

[Name removed]

36. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Ruperto31]

67. Oh, I dunno. I might vote for Mittens. I don't see much difference.

Except that it's cool to have a black guy in the White House.

[Name removed]

12. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Lorien]

25. There won't be any "cooling off" time. He has the GOP as his Big Excuse now

for passing every shred of far Right pro-corporate legislation on his agenda. You think we're pissed now? It's going to get even uglier.

[Name removed]

15. Deleted message

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[Lorien]

20. My dad says the same thing, and he was once one of Obama's most rabid supporters

gave the maximum contribution to his campaign (on a retiree's budget) and was defending everything Obama did until recently. Now he keeps saying sadly "we've been had." Neither of us will ever vote for him again.

[WizardLeft62]

24. Harry Reid is another double-talker & liar

You also count Harry Reid being "spaghetti because he's skinny and spineless," just like his pal Barack Obama.

The Congressional Democrats show just how corporate-controlled they are as well and don't care about the people they are supposed to "represent."

It's own the big money interests which now matter in this neo-fedual America these days.

"Bipartisanship" my ass....Obama uses this as cover to implement the policies of his pals at Goldman Sachs. Obama is completely wrong that "all economists think this is good."

There is no "Middle Class" and as more and more jobs leave this country, the Middle Class will be more and more hollowed out.

Obama speaks with a forked tongue too. Obama is so transparent and his explanations are so weak.

[Ticonderoga]

30. Your Mom certainly speaks for me. n/t

[Ruperto31]

69. I rember the Dem primary, where I actually called up friends...

and urged them to show up for the local "caucus." The community center was jammed with people, all voting for Obama. The polling officials ran out of ballots, and ended up using scraps of paper. Everyone was so excited.

After the election I was talking with an old hippie in line at WalMart, who said, "Meet the new boss--same as the old boss." (You know, that old line from The Who.) And I thought: cynical bastard.

But he was right. We got fooled again.

[lamp_shade]

3. Yesssssss!!!

[bowens43]

5. notice how much the dem logo

looks like a corporate trade mark........

appropriate I guess

[KeepItReal]

33. I think it looks like a bullseye

Who had that bright idea, anyway?

[mrdmk]

57. You mean this logo

[Ruperto31]

70. Like this?

<img src="">

[dixiegrrrrl]

6. The bill that DECREASES support for Soc. Sec. fund????

Hope anyone who is happy about this does not have family members who depend on Soc. Sec.now or soon.

[Lorien]

22. Well, obviously lamp_shade is thrilled, so she/he must have a fat trust fund

the rest of us are totally fucked. I have several family members who depend on SS to get by. I can't afford to support all of us if they no longer have it. No do mention the dollar devaluation and inflation this will bring us, and, of course, more unemployment as city and State workers get laid off.

[bowens43]

7. "We are here with good news for the American people this holiday season,"

How the hell can he stand there and say that with a straight face?

unfucking believable.

[defendandprotect]

9. +1000% --

[Lorien]

17. He doesn't think that anyone with less than tens of millions of dollars in the bank

is an American, that's how. :grr:

[alp227]

8. Nice going, Republicans, for ignoring the evidence from CBO and the harm of this to SS

Sheesh. CBO: "Tax cuts won't really help the economy." Republicans: "Yawwwnnn...no new taxes...oh wait, what's that? DEFICIT? Cut spending!"

I wish that the political system could've been more simple and allowed the Democrats to have their way, but thanks to the frickin' filibuster rule (historically used to block civil rights even) the choice was everyone or no one gets tax cuts starting next year.

Clinton survived by working with Republicans. George H.W. Bush (aka Mr. "Read my lips: no new taxes") on the other hand, when he compromised with Democrats in Congress to raise taxes, got booted after one term. The younger Bush was re-elected (yeah i get it about the Ohio flap) after 2 tax cuts in his first term.

Oh, this cartoon...

[defendandprotect]

10. And Obama was an innocent bystander? Obama made the deal -- !!

Cut out Congress completely -- what's new?

[somone]

11. The tax cuts and the Trojan horse to dismantle Social Security carry his signature

[Lorien]

16. We are so fucked.

Better change the letters on that toon in your sig line from "MLK" to "GOP".

[WizardLeft62]

19. Big Deal

I was physically ill during the Bush reign of terror.

I am again physically ill in the reign of Obama.

I am outraged, disgusted and a subject of Democratic Party double-cross and collusion with the savage and barbaric Republican Party.

Welcome to the New Dark Ages here in the United States.

Obama and the Democratic Party have become the Weimer Democrats and the great appeasers.

I cannot stand to see any of these politicians and this includes those in the Democratic Party talking on television. And you can throw every last Democrat into the Atlantic Ocean because that's what they just did to all of us.

[Lorien]

23. +1nt

[BenzoDia]

29. Isn't the SS payroll tax break just for one year?

How is this dismantling Social Security?

[thelordofhell]

32. Haven't you heard

We'll never get back the 2% withheld from our paychecks. Then the companies that match it won't pay the 2% either which means Social Security is going to start having deficits in 20 years instead of 30. And Congress will never do anything like raise the ceiling from $109,000 to $250,000 because only corporate teat suckers rule Congress, the President, and the Supreme Court. Which means we're all doomed to live like people in the Grapes Of Wrath. So make sure you know how to farm, because in 10 years nobody will have jobs, money, or support.

:tinfoilhat: :tinfoilhat: :tinfoilhat: :tinfoilhat: :tinfoilhat:

[BenzoDia]

38. If I'm not mistaken, the payroll tax break is for the employee only. Employer rates remain unchanged

Plus Social Security's Trust Fund will be payed back from General Revenues.

[thelordofhell]

44. You're not mistaken

See the little tin foil hats at the bottom of my post? Unfortunately, a lot of DUers think what I posted, and they just counter facts with, "You're just an appeaser" rhetoric. I don't even bother trying to reason with them anymore.

[BenzoDia]

47. Oh my lol. You got me pretty good.

Heh, I should pay a little more attention before getting defensive.

[Plucketeer]

34. When DID your boat land?

Was it yesterday? This morning?

[BenzoDia]

41. General Revenues will be used to replenish the Social Security's Trust Fund.

http://www.npr.org/2010/12/10/131969824/some-worry-payroll-tax-cut-threatens-social-security

Under the one-year deal hatched by Obama and Republican lawmakers, Social Security's long-term financial problems would not worsen. That's because the retirement program's trust fund would be reimbursed for its lost tax receipts.

http://www.whitehouse.gov/the-press-office/2010/12/07/fact-sheet-framework-agreement-middle-class-tax-cuts-and-unemployment-in

The tax cut legislation would provide for a transfer of General Revenues to the Social Security Trust Fund, ensuring no negative impact on Social Security solvency.

edit:
Added article quotes

[valerief]

48. There goes social security. Precedent will drain it dry. nt

[Ruperto31]

73. In other words, they will print up some money to pay Social Security.

How long do they think they can continue this? The Fed just recently ordered another $800 billion added to the money supply--none of it backed up in taxes.

http://www.npr.org/templates/story/story.php?storyId=97443894

At the end of this road is hyperinflation.

The traditional solution for hyperinflation is fascism.

Starvation and fascism. Not a pretty picture.

[No Elephants]

60. A journey of a thousand miles begins with a single step.

If OASDI is really in trouble, as they keep telling us, why give even one day's payroll tax "break?"

[postulater]

35. Mission Accomplished!

[davidthegnome]

37. At this point

I consider him a traitor, if not in the classic sense, then at the least a traitor to those of us who worked to get him elected - to those of us who believed in him.

I will not stand idly by. Maybe there's not much I can do, but what little I can do, I will. If he thinks we "sanctimonious purists" will allow this to go unanswered, he is mistaken. Perhaps I'll work on putting together a community protest, but I will not let this slide. I will answer his betrayal with true progressive action, somehow.

[Rex]

39. The rich get two years and the poor get 13 months.

'Pay attention children, that sound was your future being sold down the river'.

[fascisthunter]

40. what a hero

for the rich

[Roland99]

42. And with this ends all hope for America.

fuck you very much, Obama and all the corporate-whore Dems that helped this pass.

[Roland99]

43. Oh, and the $7.4 billion for the 9/11 First Responders bill must have cost offsets but this doesn't?

[customerserviceguy]

45. In the end, what finally blew me away about this was the speed

Two weeks ago, this bill was just a wet dream in the pants of the Rethuglican Senators and the President's inner circle who capitulated, er, negotiated on it. Not a single Democratic House member knew squat about it, as far as we know.

Why didn't the President get our agenda passed so quickly and so completely???

[valerief]

46. And the combination to the Social Security safe, too? nt

[sfwriter]

49. I can't say anything that won't get me banned...

...so I must take Thumper's advice and say nothing at all.

-Sandy

[4dsc]

50. Well we know what all those deleted messages are saying

and it not what the mods like around here.

[KoKo]

51. Correct...where are the DU'ers who do "Silent Moment" in "Memorium" when someone passes on.

Best to remain "mum." I actually wasn't going to reply to this..but, I'm just drowning my sorrows in watching the "post mortum" of the passage.

I would love to see a "Silent Thread" in protest. But, that would be much too "In Your Face" for these times here on DU.

[L. Coyote]

52. Obama is the Santa Claus of the rich

http://www.dancingsantacard.com/en/?santa=279789

[blackspade]

53. I'm so disgusted I can't hardly respond.

Obama's tenure as a Democrat is over. He is officially a Republican to me.

[silenttigersong]

54. ????????

Is there any DUer that knows of a list of the 6600 family's that benefit from this tax?I know the Waltons, Hiltons are ,but am dumbfounded to the others.

[skoalyman]

55. this is progress and that's what they (the lobbyist ) sent us here to achieve

:crazy:

[Johnny Harpo]

56. This bill was a double-edged sword...............

damned if he did...damned if he didnt.

It was lose-lose from the start.

[Dulcinea]

59. What about the unemployed?

No, it wasn't a perfect bill, but what is? Politics is the art of the possible, & anyone who thought we'd get everything we wanted was fooling themselves.

I wasn't happy about tax cuts for the uber-wealthy, but to me, Job One is making sure the jobless get their benefits extended. The quickest way to a double-dip recession is to cut off unemployment. As we all know, that money goes directly back into the economy; the jobless don't sit on their money, like banks or those who can afford to.
If there's no political will, or will on the part of the private sector to create jobs, unemployment MUST be extended.

[No Elephants]

62. Unemployment insurance would have been extended anyway.

We've had 4 or 5 extensions in which Republicans cooperated. They would never have denied another extension right before Christmas, citing tax cuts for those making over a million a year as their reason.

[Ruperto31]

68. Unfortunately, this is unverifiable. nt

[No Elephants]

61. LOL!

[bluestateguy]

58. I was undecided on its passage

I will await its results to see if it was a good idea or a bad idea.

[No Elephants]

63. Obama end ran Congress on a legislative matter.

So much for those who claim he defers to Congress because he he is observing his proper Constitutional role.

He got House Democrats to change their minds about this overnight. So much for those who claim a President and head of his Party's National Committee and its purse, has no power over Congress, including a Congress dominated by his own Party.

[ChumbawambaFan]

64. Obama is an idiot that pissed away 8 years of hard earned public support for Dem policies...

After Bush we could do no wrong.
We could've elected a real leader...instead we pick Mr. Milktoast..Mr. Middle of the Road.
And he DID make great strides for about 4 months...then essentially disappeared as far as I could tell.

And what did we achieve with that hard earned Bush Legacy wind at our backs?
A Health Care Policy that doesn't lower costs and is being taken down by the courts anyway.
A few other things. All elevated beyond recognition if you listen to Obama's description of them.

8 YEARS of SUFFERING and we get squatted on yet again.
Sickening. I can't wait to vote Democrat again in 2012!
I love voting for the lesser of two evils! Yay!!
The poop from this anus is so much less disgusting than from the other one!

I wish we had someone willing to really fight for the poor of this country.
But, as long as the campaign process is the way it is (and it seems to be getting worse)
...I guess I shouldn't expect much.

[Warren Stupidity]

65. Extending and Owning the Bush Tax Cuts: the chump change I voted for.

[Skink]

66. We should try and impeach.

Obama does not represent us.

[bitchkitty]

71. Wow, thanks Obama!

I really appreciate this. It's going to be a little harder to get around with your dick up my ass, but I'm sure that I'll be able to find a homeless encampment by the time you and your pals cut Social Security to the bone.

[SOS]

72. Let's borrow $858 billion from China and Saudi Arabia

Pay 3.3% interest on it, add the whole thing to the federal debt and give millionaires low tax rates.

A brilliant economic policy.

At what point in time do the hedge funds start buying default swaps on US bonds?
We'll never know because that's all done in secret.
Until one day....surprise!

The end.