Tax cut deal: Obama bought himself precious time

[babylonsister]

http://www.salon.com/news/politics/barack_obama/index.html?story=/opinion/feature/2010/12/08/obama_buys_precious_time

Wednesday, Dec 8, 2010 20:30 ET
Tax cut deal: Obama bought himself precious time
The president got Republicans to budge, and avoided a bruising, futile confrontation over taxes
By Gene Lyons

snip//



Mindful that there's no such thing as a six-run home run, the way to look at the situation is this: Faced with a 1-2 count, the president has succeeded in working a base on balls. The game's far from over, and he's in a slightly better position. End of sports metaphor.

After the fact, Krugman's scorn was less categorical. "Obama extracted some concessions," he wrote, "with the big surprise being a payroll tax cut." In effect, as New York Times economics blogger David Leonhardt argued, the critical extension of unemployment benefits for 13 months, along with the continuation of middle-class tax benefits from Obama's original stimulus package, and the payroll tax cut amount to a deficit-financed second $300 billion stimulus. Not enough, perhaps, but a lot better than nothing.

"Overall, enough sweetener," Krugman concludes, "to diminish, but not eliminate, the bitterness of the disappointment."

OK, but what about the politics of the thing? Because if the White House gave up something that, realistically speaking, it had already lost in the November elections, GOP leaders made big concessions, too. By bargaining with President Obama, they made it harder to portray him as a Socialist Demiurge out to destroy capitalism. They conceded him a legitimacy the professional right has denied him for two years.

The Party of No was forced to say yes. From a Tea Party perspective, GOP leaders agreed to increase the budget deficit purely for the sake of multimillionaire tax cuts. How much clearer can things get?

For Obama, justifiably accused of negotiating with himself in a futile quest for bipartisanship during the stimulus and healthcare efforts, this time was different. This time, he got Republicans to budge off square one. Plus, he avoided a bruising and futile confrontation over the accursed Bush tax cuts that could have paralyzed Washington for months.

At minimum, the White House bought itself some precious time.

[drm604]

1. This is an important point:

From a Tea Party perspective, GOP leaders agreed to increase the budget deficit purely for the sake of multimillionaire tax cuts.

Anyone know what tea partiers and freepers have been saying about this deal? Do they see it this way?

[Vinca]

2. It will be deja vu all over again in 2012 and it won't be pretty.

Republicans will be running on their success at keeping the tax cuts in place. It should be interesting to see how many jobs the rich folks create now that their "uncertainty" is gone.

[cornermouse]

3. At what cost...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9729673

[Tansy_Gold]

4. Exactly

[high density]

5. Clear? It's clear the Democrats will be blamed for endorsing failed GOP policies

"Look at the amazing deficit spending of those Democrats!!!!!"

[eomer]

6. Bought time? Isn't that like running out the clock while *you've* got the power play?

That seems to be what Obama has been about all along -- buying time. We heard "these things take time, be patient" throughout the two years when the Democrats had both the Presidency and the Congressional majority -- the equivalent of a power play in hockey. Now during the waning seconds of it we're told they're trying to run out the clock some more? To get to what? Soon the House will have a Republican majority. What exactly do you look forward to after enough time has been bought that our advantage is gone? The only thing I can think of is that Democratic "leadership" will have an even better excuse. Yay!

[TreasonousBastard]

7. I'll buy this-- he found a chink in Republican armor, and...

2012 is a long way off.

With a House majority, the opposition is now in the position of taking away UE, middle class tax cuts, and other subsidies to the vast bulk of the population when the next negotiations come up. Not a good place to be when you could have been in the position of restoring them.

Who knows what will happen in the next two years. Whatever happens, though, the Republicans have lost one slight advantage. Politics aside, we got a lot of what we want, and that's never a bad thing when there's a large risk of losing it all.

[Clio the Leo]

8. I appreciate it anyway. nt