http://www.washingtonpost.com/blogs/post-politics/wp/2012/12/21/obama-extend-middle-class-tax-cuts-and-unemploument-benefits-by-jan-1/?wpisrc=al_comboNP_p
Obama's claim to having met more than 1/2 towards compromise with the GOP on taxes and spending, is well, questionable at best. That said, promoting a brief band-aid is better than nothing at all, but not nearly adequate for fixing the problem. This basically tells the world, that our legislative process is still as messed up as ever, though admittedly, probably better than almost anywhere else on the planet with a Democratic Government of this size and civilian population. A National Credit Downgrading is probably inevitable - there is no legitimate plan for reducing the debt, and the process for working towards this is as "dysfunctional" as ever - S&P etc., are not happy campers right now.
And, for those worried about the economy, yea, the markets are not terribly excited about this either. Don't expect the economy to continue as it has been - as weak and tepid as the recovery has been to this point. Fully prepare for another slowdown...aka...recession....decent odds it's on the horizon.
Bottom line, until Dems get publicly serious about cutting spending - this thing will continue unresolved and a constant "injury" to our economy.
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