Obama tax cut compromise: The ‘best deal’ is still a bad deal for America

When political pundits talk about President Obama’s tax cut compromise and say ‘this is the best deal we’re going to get,’ one has to wonder what the worst deal would look like. As it stands now the republican strong-arm tactics against President Obama and the Lame Duck Congress will add $900 billion to the deficit, most of which will be caused by an extension of the Bush tax cuts for a handful of millionaires and billionaires.

While the GOP is on the brink of declaring victory for the wealthy, the rest of America remains unemployed, underemployed, in foreclosure or without a shred of hope from the shrinking safety net the GOP seems bent on tearing away from the bottom up.

According to The Nation, “It's the standard bribery model of legislating that has come to characterize Washington in the era of oligarchy: if you want to put food on the table of the unemployed, you must lavishly wine and dine the CEOs and bankers who laid them off.”

The republicans won control of the House in the 2010 elections with the promise of being the party that would take the federal budget deficit seriously and take steps to reduce it. That promise does not appear to apply to tax cuts for the wealthy. 

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