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Senate ‘Almost There’ but Hold On: House Has “no Plans” for Vote Tonight

Posted on: December 31st, 2012 by Mike Sax No Comments

     It's not clear where this is coming from. Is it gamesmanship? The GOP is in a pique of hurt feelings based on some early afternoon bluster by the President. They are claiming that Obama's statement that the sequester cuts will not be done only with spending cuts-but more revenue-they are now suggesting may be a deal killer.     "With hours remaining to avert the so-called fiscal cliff, President Barack Obama said a deal is “within sight” and urged lawmakers to come together to avert automatic tax hikes and spending cuts that kick in on...

Apparent Breaththrough on Fiscal Curb

Posted on: December 31st, 2012 by Mike Sax No Comments

</body>      This is what the Poltico headlines are screaming right now. Talking Points Memo says "McConnell: We Have a Deal...  Almost."      HuffingtonPost declares 'Close.'      http://www.huffingtonpost.com/2012/12/31/fiscal-cliff-deal_n_2388823.html       From Politico:      "With the clock ticking toward the...

GOP Senate Source: There Will Be a Deal

Posted on: December 31st, 2012 by Mike Sax No Comments

     True, right now in liberal-land, there's consternation that the deal will be horrible. As I've suggested, if we get what's currently being advertised-$400,000 floor on higher taxes($500,000 for married couples)-it's a pretty good deal, even if the Dems give the GOP the lower rate on inheritance taxes-provided the capital gains and dividend taxes also go up to Clinton rates.      http://lastmenandovermen.com/2012/12/31/a-sinking-feeling-that-obamas-about-to/     ...

A Sinking Feeling That Obama’s About to Cave

Posted on: December 31st, 2012 by Mike Sax No Comments

     I just wrote about this: that many liberals now think he and maybe the other Dems are about to cave.      The latest on the fiscal curb     http://lastmenandovermen.com/2012/12/31/good-news-and-bad-news-on-fiscal-curb/     Krugman, too, speaks of a "sinking feeling" that the President is about to cave:      "Many reports in the past hour or two suggesting that Obama is about to cave on the fiscal cliff — water down his tax demands in return for some minor Republican concessions —...

Good News and Bad News on the Fiscal Curb

Posted on: December 31st, 2012 by Mike Sax No Comments

     The good news is according to the latest reports-though this keeps changing-a deal is increasingly likely.  The bad news: many liberals seem to think the Dems are selling out out of a desire to get a deal at any price.      Talking Points Memo speaks of the 'Dems' Mystifying New Fiscal Cliff Strategy.'       "A deal like this re-enforces the GOP’s skewed approach to budgeting, which basically ignores the impact tax...

Lazy Punditry: David Gregory Protests Too Much

Posted on: December 30th, 2012 by Mike Sax No Comments

     I see that Gregory is quite bent out of shape that some from the Obama Administration have referred to the media narrative that the fiscal curb is the fault of both the parties-'a pox on both your houses;-is just "lazy punditry."     What's that matter David? Does the shoe fit? Today he lashed out saying that 'the American people care about results' that the President needs to understand that its not just about "being right." He suggests that ultimately if we go over the cliff and to suffer from these higher tax rates-I like the rest of us could see...

The Age Old Question: Is Inflation the Price of Civilization?

Posted on: December 30th, 2012 by Mike Sax 4 Comments

    Or is it just an unmitigated tax, particularly on the poor? I've never believed that inflation is an unmitigated evil or that it's worse for the poor at least on every level. Back when I had my radio show, I got in an on air argument with my co-host Turbo Kitty after she insisted that inflation is indeed an unmitigated tax on the poor. For more on my argument with her     http://lastmenandovermen.com/2011/10/22/what-is-inflation/     http://lastmenandovermen.com/2011/10/22/few-more-notes-on-inflation/    ...

Woj on When the State of Macro Will Be Good Again

Posted on: December 29th, 2012 by Mike Sax 3 Comments

     He has a post in answer to the skirmishing over macro going on between Stephen Williamson, Krugman, et. al. I've had a few posts on it myself.     http://lastmenandovermen.com/2012/12/28/david-glanser-resolved-state-of-macro/     http://lastmenandovermen.com/2012/12/21/krugman-noah-smith-and-stephen/     http://lastmenandovermen.com/2012/12/24/what-is-wrong-with-neoclassical-macro/     I find if anything, Glasner-as is often the case-had as penetrating analysis as anyone; Woj also indicated he feels the...

The Hurdles in Getting a Fiscal Curb Deal By Monday

Posted on: December 29th, 2012 by Mike Sax No Comments

     Amid new optimism about getting a deal, there are some hurdles, both on policy and procedural. The policy issues are about taxes:      "Taxes remain the primary sticking point. Republicans have signaled a willingness to extend the George W. Bush-era tax cuts for all income up to $400,000, while Democrats prefer the $250,000 figure that Obama campaigned on, according to sources in both parties."      "Tied into that discussion was another over the estate tax, with Republicans and some Western Democrats pushing to...

President Stands Tall on Fiscal Curb; Starts “GOP Civil War’

Posted on: December 29th, 2012 by Mike Sax No Comments

</body>       Or so says Charles Krauthammer:       Conservative columnist Charles Krauthammer believes President Barack Obama has used the fiscal cliff to start an "internal civil war" among House Republicans.      "He’s been using [the fiscal cliff talks] — and I must say with great skill, and ruthless skill and success — to fracture and basically shatter the Republican opposition," Krauthammer told Fox News host Sean Hannity. "The only redoubt of the...

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