click link
snip
The measure, which would raise tax rates for families making more than $450,000 and delay deep across-the-board spending cuts for two months, cleared the Senate by an overwhelming 89-8 vote shortly after 2 a.m. The Republican-controlled House could take up the pact in a rare New Year's Day session, though the timing of that chamber's vote was not clear.
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.
----------
pretty gutless of dems whom did hold most of the cards.
also note, changes to 401s---pensions also in this deal and we have not a clue to what it is and how it will effect folks
No comments:
Post a Comment