The tax cut deal
Image by wallyg via FlickrI watched the President give an angry speech describing the parameters of the deal. It seems to reflect a poor temperment for compromise even when there is an agreement. It probably explains why he did not bother to do it much during his first two years.
The deal was pretty much as advertised over the last two days. The piece I was not previously aware of was a reduction in the payroll or Social Security taxes, in addition to the extension of unemployment payments and all the tax cuts for a two year period.
While the deal is described as an Obama concession to reality, it is clear that this President is going to have a difficult time dealing with the new reality having lost his liberal majority of the last two years.
Ultimately, once the liberal base gets over its snit, this deal has the potential of being a good one for the President that may actually get this economy turned around.