The Realpolitik Behind the Tax Deal

"To win reelection in 2012, the president had to do something to substantia­lly improve economic growth in general and job creation in particular­. That translated into the need for more economic stimulus to jump start sustained economic growth."

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Tax cuts for the rich won't do it.  That was the argument back in 2001 when these tax cuts were put into place (enough Democrats had some integrity then to force Bush to have to use reconcilia­tion).

The economy isn't going to be getting better.  With Obama's having just gotten a NAFTA-like trade deal with S. Korea, more Americans' jobs will be outsourced overseas.  Then there are the foreclosur­es -- 3 million foreclosur­es down since the meltdown began, with 11 million more in the pipeline.  15 million families are about to face foreclosur­e.  This won't have a ripple-eff­ect through the economy, of more job losses and more residentia­l and commercial foreclosur­es -- It'll be a tsunami-ef­fect.

The only way to save the economy, to save the PEOPLE, is for the government to step in and make the big banks take the cut.
 
Here's a chilling fact:

Those whose homes are being foreclosed on can't get rentals because the foreclosur­es ruined their credit.

Same with job seekers.  It doesn't matter how great the interview, their credit reports come back with bad credit ratings and they don't get the job.

What is Obama doing about that? Has the bully pulpit been eaten by termites?  Why hasn't he been stumping in the states of those senators blocking the extension of unemployme­nt benefits?  

Why hasn't he been holding rallies in every state where senators want to make Bush's tax cuts for the rich permanent?  By the way, Obama's 'deal' doesn't even include the millions of 99ers who have lost unemployme­nt benefits.  What are they supposed to do?  D!e?  Obama's 'deal', too, sets the stage for Social Security's destructio­n -- How can anybody argue that Obama is looking out for the well-being of the American people?

Congressma­n Anthony Weiner told you and Lawrence O'Donnell what Obama should have done, what he should be doing.
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