I agree that the GOP handling of the tax-cut extension was akin to political suicide, but what do you expect from a party that has become politically incompetent? Sometimes you have to hold your nose so that you can live to fight another day. Kicking the can down the road, as our blame-everyone-but-me commander in chief calls it, has become the way Washington does business now.
A mere two-month extension of the payroll tax cut? No budget for three years? Delaying the Excel pipeline until after the election to appease a small but radically environmentalist part of the presidents base for purely political reasons? Annual extensions of the debt limit? Clearly, suicide isnt unique to Republican lawmakers, it has become a national goal. The Bush presidency damaged this country. The Obama administration is wrecking it.
I did find a small reason for optimism in the Heralds editorial (Dec. 22). I have read from time to time that in the opinion of the Heralds editorial staff, tax cuts dont work. Now, the Herald seems to recognize the economic benefits of allowing people to keep their own hard-earned property (money). Or, could it be that in the opinion of the Herald, only Democrat tax cuts have economic benefits?
This cut will be financed by significant fees added onto federally sponsored home loans. Anything approaching a consensus among economists has been rare to nonexistent with the exception of an understanding that economic recovery will not happen until the real estate and residential construction industries are resurrected. This is a wet blanket on that key economic sector.