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realclearworld

The lessons of 2006 have been swept into the memory hole

No balls. No principles.

Congress gave its final approval Tuesday to a bill halting massive tax hikes and delaying a risky round of spending cuts, sending the package to the president’s desk and likely averting for now an economy-stalling fiscal crisis. President Obama said he would sign it.

The 257-167 vote in the House came after a day of high drama on Capitol Hill, during which conservative House lawmakers voiced serious concern about the Senate bill’s lack of spending cuts. Rank-and-file Republicans initially predicted they would tinker with the package, raising the possibility the Senate would abandon it and nothing would get done before the new congressional class is seated Thursday.

But House leaders soon learned they did not have a majority behind any spending-cut plan, and allowed the straight vote. Far more Democrats supported the final bill than Republicans.

The result, once Obama signs it, is that tax hikes that technically kicked in Jan. 1 for most Americans would largely be halted. [...]

9 comments to The lessons of 2006 have been swept into the memory hole

  • Honey

    It is official now. You elect Republicans, many of whom you believe you can rely on and you are disappointed. What explains Toomey's support? No spending cuts and we won't get them.

    I am very disheartened.

  • FreedomForCuba

    Now the GOP will be blamed again when the economy goes into another recession for agreeing to this flawed deal...

  • Honey

    You are so right, Freedom.

    That's always been my argument. The msm and the dems will give us the blame no matter what we do, so why give in to them?

    The only argument I can come up with to defend those of our side who voted for this is it was January first and the taxes were automatically going up, so you could consider this bill a tax cut not a raise in taxes.

  • FreedomForCuba

    Honey,

    The markets may go up for a while after this agreement but, make no mistake about it, once business get impacted by all these tax hikes (and Obamacare) you'll see more layoff and cuts and that's when the crisis will begin.

    • There will be the usual idiocy from the left about how the markets are going up thanks to this bill, etc., etc. But don't be fooled: we cannot sustain the double-digit trillions of additional debt we are about to add to the deficit. We are definitely over the cliff. And there's no going back.

  • FreedomForCuba

    Ditto George,

    Reality check will hit us sooner or later...

  • asombra

    These are not the Republicans you're looking for. All they really want is to stay in office and enjoy their position and its perks. It's not about winning the game so much as staying in it. Boehner makes me cringe more every time I see him. He's an embarrassment at best.

  • Honey

    Well, I asked about this and got from a reliable source that the reason some of our side voted for this, as I suspected, was to avoid much higher tax cuts from kicking in automatically. There's a lot not to like in this bill, but let us hope there will be battles aplenty from our side to come.

  • FreedomForCuba

    Well,

    I just got my first paycheck for the year and can already tell you how much more these new taxes (and ObamaCare combined) will deduct in total compared with last year:

    $1840.00

    Welcome to American Socialism of the 21th Century...