The public opposes it. 73% of the public is opposed to the deal.
The deal costs an insane $900 billion over the next 2 years. It makes a mockery of deficit reduction.
The deal eviscerates the estate tax, moving the exemption up to an insane $5 million and lowering the tax to a ridiculous 35%. These changes alone will blow a $2.7 billion hole in California’s budget alone this year. These changes will affect a mere 39,000 families, or .3% of the population. We are blowing up the deficit for .3% of the richest families in America? Why?
The economic stimulus will be about zero. Worse, according to Michael Hudson, it will worsen the economy, but apparently that’s the purpose of the bill!
It loses Obama even more of his base, which is probably essential to him getting re-elected, as these are the folks who give money and put boots on the ground. A recent poll of Obama campaign donors found that 53% were not inclined to give him one more red cent.
It makes Obama look weak. Weakness is all about appearances. If you look weak, you are weak. The Republicans got everything they wanted. That’s why they are sitting there with shit-eating grins on their faces. Every single “concession” that Obama claimed he got from the bill was actually proposed by the Republicans!
In short, this bill is a flat out clusterfuck nightmare.
The House Democratic Caucus took a vote on the bill and voted to not even hold a vote on it.Then Nancy Pelosi suddenly “went on vacation” to Europe. No vote can be held until she comes back. When is she coming back? Who knows. She ought to stay in Paris til Christmas!
The White House ramped up the pressure, pitifully calling in Bill Clinton to whore for Obama. This if anything exemplified the depths of the pitiful hole Obama has dug for himself. Watching the video, you got the feeling that Clinton’s heart wasn’t even in this sorry-ass performance, one of the lowest points of his political career. If nothing else, Clinton looked sad. Appropriately so. This is one sorry-ass bill. It needs to be buried in the graveyard at midnight with a stake through its heart so it can’t rise to haunt us again.