So House Republicans shoot down the extention on payroll tax relief? Are they going to play that bad brinksmanship game again–you know, the one that makes the stock market wobble on its axis and sets the already unstable European markets nuts? Can we expect yet another credit downgrade?
I guess the Senate Bill just wasn’t good enough. Is John Boehner speaking out of both sides of his mouth? First he agreed with what the Senate did. Then his whoop-dee-doo financial wizards get hold of him and he comes out brainwashed. So what will happen?
From Huffington Post:
The House was returning to work Monday, two days after the Senate easily approved a compromise solidly supported by both parties and left town for a month. The House scheduled a vote late Monday, with leaders saying they would either formally request talks with the Senate on a new bill or make changes in the Senate measure that were uncertain late Sunday.
Without congressional action, the payroll tax would rise 2 percentage points on Jan. 1.
Extending the payroll tax cut and jobless benefits have been a keystone of President Barack Obama’s and congressional Democrats’ effort to spur a revival of the flaccid economy. Congressional Republican leaders also say they support the idea, but some of their rank-and-file remain unconvinced, saying the unemployment coverage is too generous and that cutting the payroll tax does not create jobs.
The Senate bill would cut the payroll tax, extend jobless benefits and avoid cuts in Medicare payments to doctors through February. Both sides say they want to renew all three for a full year, but bargainers have so far failed to agree on how to pay for a package that size, which could cost roughly $200 billion.
“If House Republicans refuse to pass this bipartisan bill to extend the payroll tax cut, there will be a significant tax increase on 160 million hardworking Americans in 13 days that would damage the economy and job growth,” Dan Pfeiffer, the White House communications director, said Sunday.
Many of us have come to the conclusion that some House Republicans will literally do anything to get rid of President Obama. I hope I am wrong but time after time, that’s really what it is looking like. Party first, country second. There is really no need for this. Has there ever been a worse congress than these clowns?
