If you’re just now recovering from your New Year’s Eve bash and missed the latest installment of America Does Another Fiscal Crisis (aka: The GOP Does Stupid), here’s a summary.
- The Senate signs a compromise bill after an agreement was reached at 2 AM January 1.
- 89 yeas. 8 nays.
- At 10 PM on the same day, the House approved the deal. While only 85 Republicans signed on to the deal, it was enough to push the vote through the House.
- Taxes go up for individuals earning more than $400,000 and couples bringing in more than $450,000. In all, $600 billion in new tax revenue.
- Everyone else? The Bush tax cuts stay in place permanently.
- Unemployment benefits are extended for a year.
- Dems get a few other goodies they battled hard for (e.g. wind-industry tax credit) but the deal is not close to what they had hoped for. The $620 billion in new tax revenue over 10 years is a far cry from the $1.6 trillion they wanted.
- As for Republicans, they got a few of things they were looking for – an end to the payroll tax break as well as no new stimulus spending. But for many in the party, it just wanted enough. A civil war has broken out in the party with many conservatives believing that Boehner needlessly caved in to Dems demands. Boehner and Paul Ryan voted for the deal, BTW. Eric Cantor voted against it.
- Conservative Todd Starnes’ view of the deal kind of sums it up for Malkin, Drudge, Gingrich and the rest of the clowns who are screaming bloody murder.
This is what happens when your political party is led by an emotionally compromised weeper.
— toddstarnes (@toddstarnes) January 2, 2013
For a full-on study of what a right-wing nutjob sounds like, take a look at Starnes’ twitter feed. Not pretty and typical of what delusion, ignorance and Fox News can do to a mind.
So that’s where it now stands. The immediate crisis is over but a new one will soon begin with the debt ceiling extravaganza right around the corner. A number of teabagging Republicans will do their moronic best to once again bring American and global markets crashing. I like how mistermix over at BalloonJuice describes the fools.
…we have a third party in DC. It has 150 votes in the House and 5 in the Senate. They stand for nothing, are led by nobody, and will obstruct everything, and we’re stuck with them for at least two more years.