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No longer stumbling, the gift to the rich has now cruised through the senate (how appropriate)

and Wall Street Journal feels the whole thing is “steaming” to their pockets Read the rest of this entry »

For those thinking Obama sold out on the tax deal, rejoice! That was only the beginning

Obama to blink first on Social Security

The tax deal negotiated by President Barack Obama and Senate Republican leader Mitch McConnell of Kentucky is just the first part of a multistage drama that is likely to further divide and weaken Democrats.

The second part, now being teed up by the White House and key Senate Democrats, is a scheme for the president to embrace much of the Bowles-Simpson plan β€” including cuts in Social Security. This is to be unveiled, according to well-placed sources, in the president’s State of the Union address.

See, there were a few more Rs to placate – the deficit hawks. Now, the social justice will be restored, the greedy geezers get to pay for the billionaires tax cuts – not by just having their social security frozen, but also cut.

This is a third bite Obama takes from this apple – which should tell Kuttner it wasn’t about blinking, but about Obama’s starry eyed dream.

This will be sold as preempting other worse things from the Rs and obtaining the all important extension of the debt ceiling. That will keep me warm at night.

I am now officially unsure how I’ll survive.

Kuttner concludes

The move also gives away the single most potent distinction between Democrats and Republicans β€” Democrats defend your Social Security, and Republicans keep trying to undermine it.

Not Your Sweetie

December 2010