I was going to wait till the vote closed but after 3.5 hours, I lost my patience. By a vote of at least 83-15, the Senate invoked cloture on President Obama’s tax package. Those voting no were mostly Democratic: New Mexico’s Jeff Bingaman, Wisconsin’s Russ Feingold, Vermont’s Patrick Leahy, Kirsten Gillibrand of New York, Ohio’s Sherrod …
Economy
Larry Summers’ Warning About The Growth Of Government (Transcript)
In the Wall Street Journal today, Tim Pawlenty published a self-serving essay about his own bravery in taking on the public employee unions in his state, who never really supported him anyway. It is an obvious piece of political positioning for 2012, and not a very interesting read.
This morning, by contrast, outgoing White House …
Will They Stay or Will They Go?
House Democrats have a decision to make this week: do they value messing with President Obama’s tax plan more than their Holiday plans? The Senate today is expected to vote on cloture on the tax plan, which would mean passage by Wednesday (assuming they get cloture, which seems likely). The House would then take up the measure Thursday …
Morning Must Reads: Coup
(White House/Pete Souza)
–Obama’s tax cut deal is poised to sail through the Senate today.
–What you missed Sunday: House Dems want to excise the estate tax concession. Rep. Van Hollen says they’re “not going to hold this thing up at the end of the day.” The White House doesn’t want to change anything.
–Treasury kicks the …
Sanders Filibusters Tweaked Tax Bill
At 10:25 a.m. this morning, Sen. Bernie Sanders, the independent from Vermont, began a lengthy speech on the Senate floor to block President Obama’s $858 billion tax bill. “You can call what I am doing today whatever you want, you it call it a filibuster, you can call it a very long speech,” Sanders said. “I’m not here to set any great …
Morning Must Reads: Sunny
Defense Secretary Robert Gates boards a C-17 after visiting U.S. troops at Forward Operating Base Howz-E-Madad in Kandahar Province in Afghanistan December 8, 2010. (REUTERS/Win McNamee)
–The Senate begins debate on Obama’s tax compromise today and Dems there are beginning to thaw. House Dems not so much; some
Democratic Tax Tantrums
This morning, ABC’s Jake Tapper reported that the White House wanted a fight but congressional Dems “wouldn’t throw a punch.” From his story:
The White House has two arguments for what they acknowledge are “frustrated” Democrats:
1) We wanted a fight on these tax cuts, and Congressional Democrats never took up the charge and
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Working Out The Costs Of Obama’s Grand Tax Cut Bargain
This afternoon, the Republican and Democratic caucuses in both the House and the Senate will huddle to discuss President Obama’s “framework” proposal for cutting taxes and stimulating the economy next year. Of course, since this is Washington, they won’t know the exact cost of the proposal they are debating.
They will know, however, …
Why Barack Obama Compromised On Tax Cuts
Long before the midterm ballots had been counted, White House aides had begun to mull the coming agony of divided government. As the Obama team worked out its options, one priority kept coming to the top: However, the next two years shook out, they told themselves, Barack Obama needed to convince the great middle of the American …
McConnell’s First Test
On Meet the Press yesterday Senate Minority Leader Mitch McConnell took a victory lap, gloating that he’d forced the administration to bend to Republican will.
We’ve had more conversations in the last two weeks than we’ve had in the last two years, and I think that’s a good sign, a growing awareness that the power’s going to be more
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Morning Must Reads: Deal
(White House/Pete Souza)
–After the weekend, a deal extending all the Bush tax cuts temporarily (1-3 years) in exchange for Recovery Act tax credits and a year or so of unemployment benefits still appears to be the only way forward in the Senate. The timing of the expiration, of course, has implications for Obama’s re-election …
Sock Puppet Theater, Act II
Congress tomorrow – yes, on a Saturday – will be holding their second round of just-for-show votes on extending the Bush tax cuts. On the heels of the House vote, the Senate will be tackling the tax cuts, which expire at the end of January if action isn’t taken. Don’t expect real progress, though: the legislation isn’t expected to …
The Most Important 2012 Campaign Number Of The Day: 3.6
It comes by way of Goldman Sachs, which Adam flagged below, but is worth reproducing in part:
The US growth outlook has brightened significantly in recent weeks. As a result, we have raised our sights for 2011, calling for real GDP growth to average 2.7% for the year versus 2.0% previously. We expect growth to pick up further in
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