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

California: A Cry for Help

California Governor Schwarzenegger declares a state of emergency. Why now, why did the governor decide that this was the time to make this declaration. We have been reading about the depths of California's fiscal troubles for 18 months. It was clear where the state was headed, but the governor waited until now. Imagine is Bush or Obama has waited as the country slid further into a fiscal and economic whole, where would we be.

I am sure there are issues that made the decision more complicated that those of us on the outside could see, but I am appalled to say the least. I can only imagine what Californians are thinking. See video below

If there is any force left, may the force be with you too Schwarzenegger.

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K. Reilly
Cohn-Reilly Report