Showing posts from December 26, 2011

On the recent mess in Washington

Business Times - 27 Dec 2011 Tax cut battle in House exposes divisions within Republican Party The spectre of the party being taken over by radicals is bound to alienate moderates and help Obama win election By LEON HADAR WASHINGTON CORRESPONDENT REPUBLICANS were licking their self-inflicted political wounds after what would probably be recalled as the Great Christmas-Eve Tax Cuts Battle (GCETCB) concluded with a legislative ceasefire but with clear political victory for President Barack Obama and the Democrats. Indeed, after a week of unyielding opposition by Republicans in the US House of Representatives to a modest temporary or 'stopgap' legislative measure that enjoyed wide bipartisan support, both the House and Senate finally approved - just two days before Christmas - a short-term extension of the payroll tax cut and federal unemployment benefits. It was a nice holiday present for President Obama who signed the legislation before leaving to join his family on vacation in