Monday, August 1, 2011

A short, non-environmental post on the debt "deal"

© 2011 Joshua Stark

The title of this AP piece, and EVERY article about this horrific deal should be:


Here's the most important quotation from the above-linked article:

"Yet it appeared Obama's proposal to extend the current payroll tax holiday beyond the end of 2011 would not be included. Nor would his call for extended unemployment benefits for victims of the recession."

Republicans are now running around saying they kept taxes from going up, but what happened is that they wouldn't vote for an extension of a tax cut to working folks, nor would they vote to back-fill these tax losses through taxing corporate jets.

Democrats are running around saying that they get the debt ceiling raised, thus averting catastrophe, but happened is that they were willing to let their major donors in the financial sector get away with not having to deal with the catastrophe they've created, this limping-along recoveryless recovery.  They also voted to cut unemployment extensions and to raise taxes on working people at the same time.

Here's a quick reminder of the definition of "unemployment":  Those who do not have a job, but who are able to work and are actively seeking work.  It's these people that keep inflation in check - and if there are too many of them, they drive down wages and keep recoveries from happening (sound familiar?).

This is a sham, another slap in the face to working people and people who want to work, and another meaty steak for the rich.  What a sorry, sorry state we are in.

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