Economists in and out of government have warned that a combination of tax hikes and spending cuts could trigger a new recession, and the White House and Congress have spent the seven weeks since the Nov. 6 elections struggling for a compromise to protect the economy.
The tax hikes and spending cuts would inconvenience a lot of people, but that's not what causes recessions.
The politicians get to slap each other on the back for a job well done, but it is all a kabuki theater. In order to believe these politicians, you have to believe that by extending the Bush tax cuts, you are saving the economy. But these same Bush tax cuts are what was supposed to have caused all of our troubles in the first place. What a load of bullcrap.
The House should just stand aside and let the Clinton tax rates resume and wait until we all get rich. /sarc
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