Thursday, January 03, 2013

Big Tax Hikes, Pork and Broken Promises -- That's Your "Fiscal Cliff" Deal, America.

* The "fiscal cliff" legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren't the fruit of eleventh-hour lobbying conducted on the cliff's edge -- they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week. (Tim Carney, "How corporate tax credits got in the 'cliff' deal, The Examiner.)

* Remember "We have to pass the bill before we know what's in it"? Well, here we go again. -- "Senators Got 154-Page 'Fiscal Cliff' Bill 3 Minutes Before Voting on It."

* Who cares about promises made to the American people? Not politicians -- not even Republican politicians.

* Obama Wins. The G.O.P. Caves. (And Americans Get a Very, Very Bad Deal)