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Austerity
It’s coming. Congress will obsess over crafting a long-term deficit deal no matter what happens with the tax rates and the sequester. In all likelihood, we’ll get regressive budget cuts at all levels of government, plus, for good measure, tax hikes not just on the rich but on working people. The well-funded “Fix the Debt” monsters will still demand massive cuts to Social Security and Medicare. Republicans are justifiably confident that they can use the debt ceiling to force more spending cuts less than a month from now. If all of this sinks the still-sluggish economic recovery, that’ll be just one more sign that we need to cut more, and “tighten our belts.” Plus the debt ceiling fight might just crash the world economy anyway.
Congress Isn’t Going to Do Anything
As historically unproductive as the 112th Congress was, there’s not much reason to expect more from the 113th. The Senate has gotten marginally more liberal and the House has gotten marginally less Republican, but the basic makeup of both is the same. It’s still the case that House Republicans have no incentive to compromise on anything, while Senate Democrats live to compromise.
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kt me add one
if the president and dems in general keep up their stellar deal making, it is going to be a long next two years.
if they did the deal making for labor, we would all be on food stamps, without insurance and pension
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