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January 1, 2013
Obama's hollow political 'victory'
Posted by Laura
This is how Politico summed up the Senate "cliff" deal, passed when many Americans were either asleep or drunk, shortly after midnight on New Year's Day:

The $620 billion agreement was a major breakthrough in a partisan standoff that has dragged on for months, spooking Wall Street and threatening to hobble the economic recovery. It turned back the GOP’s two-decade-long refusal to raise tax rates, delivering a major win for the president. But as big a deal as it was, it did little to address the nation’s long-term deficit problem — there’s nothing in it to pare back entitlement spending — or to defuse a potential crisis over raising the debt ceiling that could come as early as February. The legislation now moves to the House, where Speaker John Boehner (R-Ohio) has vowed to give any accord passed by the Senate its time on the House floor.”

So once again, the president can smugly strut because he scores a "major win," but the people get a major zero in the way of real structural reform to guide us toward debt and deficit reduction. Celebrate away, Mr. President. Take your victory lap. We expect nothing less.
01/1/13 11:55 AM
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