From Reuters:
…Despite a number of options — including renewing all tax cuts or only those for the middle class or tying any extension to a renewal of jobless benefits — there is no indication a consensus is near.
“How the hell should we know when we will figure this out?” said a senior Senate Democratic aide. “This is the Democratic Party,” long known for internal struggles and diverse views.
“It seems like no one is on the same page,” said Chris Krueger of MF Global, a private firm that tracks Washington for investors. “It has the potential to be a train wreck.”…
It is hard for the left to contemplate any extension of the Bush tax cuts – remember, for the past 8 years the left has lied endlessly about the effect of the tax cuts. To listen to them, all our fiscal problems stem from the tax cuts – they’ve painted themselves in to a corner where if they agree to an extension, they betray their own actions and statements over the past 8 years. It is, though, hard for Democrats up in 2012 – especially those “red State” Democrat Senators – to not extend the cuts; they are desired by the people, required for growth and failure to act would be suicidal for such Democrats.
Its a nice, little quandary they’ve got themselves in to – and the best part about it is that they’re there because they lied. Had they just never lied about the effect of the tax cuts, they could just go along with their extension for two more years and have done with it. Ah, the tangled web we weave when first we practice to deceive! There is no good way out of this for them – and no matter what happens, we Republicans will come out smelling of roses.
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