New York (CNNMoney) – For the near term? Good. For the long term? Oh, puh-leeze.
That, in a nutshell, summarizes how independent deficit hawks view the fiscal cliff compromise that Congress passed on Tuesday and which President Obama signed into law Wednesday.
The Republicans think the bill was a bad deal because they were not able to pull in the support to save their rich friends while taking money from the poor, middle class and unemployed. They will be after Social Security and Medicare next. I believe that we need to revisit what we pay our elected official in salaries and benefits. Illinois senator Mark Kirk, a Republican, just returned to work after almost a year off from a stroke. He is looking well and progressing steadily. The tax payers paid for his extensive, excellent care. But he is a part of the Republican party, the party that resents Obamacare for the help it will give the taxpayers in their time of need. The Republicans want President Obama to cut taxes and their idea of cutting taxes is to take away things that taxpaying citizens rely on to stay alive. Watch for the debt fight the Republicans are itching to have since they lost this one.
from the article:
Congress had 17 months to address the cliff, but it didn't start negotiating in earnest until about six weeks ago. "In fact, Washington politicians set it up to force themselves to seriously deal with our nation's long term fiscal problems. ..." Bowles and Simpson said in a statement
I thought these guys were supposed to be smart. If the Congress set a date as several weeks after a general election, did they really expect any binding action to be taken prior to that general election?