Let's Make a Deal

A last minute deal was made to extending the Bush Tax Cuts to everyone, including the millionaires, in exchange for the republicans signing off on extending unemployment benefits - both where were set to expire December 31.

The election results served to turn up the heat on the Administration and the Democrats. Time’s up, and this last month is critical to set the stage for any potential “positive spin” on what was or wasn’t accomplished before the GOP takes control.

The Moment of Truth had Arrived.

The republicans threw their weight around and the Obama Administration was forced to play the game. With the threat of losing all possible chances of recovering from a shaky first 2 years at the helm, President Obama knew his first step to turning the economy (and his legacy) around lies in the extension of unemployment benefits.

Unemployment extension would buy the Administration time to establish traction in the recovery, and give time for another round of stimulus programs to take effect.



In reality, the unemployment extension would buy the Administration time to establish traction in the recovery, and give time for another round of stimulus programs to take effect.
May the force be with you Mr. President.

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K. Reilly
Cohn-Reilly Report / News Flash