....either way the nation suffers further economic damage, which hastens our already
oncoming default. President Obama has accepted a deal with the Republicans to extend
the Bush tax cuts for the affluent, and in exchange get what the Republicans could not have refused----an extension of unemployment benefits that are expiring for millions of Americans, and a reduction in FICA taxes which will further increase the deficit. No Republican would have dared to allow millions of Americans to completely run out of income, before the holidays. Obama didn't need to surrender, and didn't buy any good will for doing so. But, sad to note, the deal ignored the immediate
deficit budget crisis we face which will more than obliterate the benefit of the short term stimulus of more debt. The Republican leadership in Congress knows where
the nation is headed, and is working to have the coming bankruptcy shelter the
wealthy, at the expense of the middle class. But our country will not survive as a democracy on a class system with a tiny minority of very wealthy sitting atop a pyramid of an impoverished middle class.
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Obama is simply attempting to create a profile that illustrates his willingness to work issues with "across the aisle" participants. His actions are clearly a mechanism to ensure his name gets written into history as someone who tried to work all issues for the public good.
I cannot fault Obama for finding "common ground" on the other side of the aisle because that effort does, in fact, offer a distinct benefit for most citizens even if they don't like it.
Our economy is largely based on a credit-based scenario and his approach speaks directly to that philosophy. That's why Republicans are so enthralled with it and Democrats hate it. Credit-based economy of course, is pointless when the country has no major industry to fill those credit holes but we tend to trust all such issues to balance out over time because they always have in the past.
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