NYT: A second stimulus


The apparent deal over the Bush tax cuts highlights why the Democrats probably had to accept the extension of all the Bush tax cuts. No politician is likely to use this word — at least no Democratic politician — but the deal amounts to a second stimulus bill.


45 thoughts on “NYT: A second stimulus

  1. About taxes, income vs payroll – Last night I was talking to someone about many people don’t even realize what their income tax rate is from year to year (myself included). Lots of things change, like deductions, total earnings, etc.

    But if we are talking about payroll taxes, if I understand correctly, people will see an immediate (though probably small) increase in their take home pay. This is good politically for Obama and good for promoting consumer spending and confidence.

    I think I’m right about this.

  2. I wonder how many of those demanding our president’s scalp are staring homelessness and poverty in the face?

  3. I am so proud of the President. He is obiviously “The only adult in the room”. Many people like myself will be able to enjoy the holiday and put “FOOD on the table”! Thank you for all you do Blackwaterdog.

  4. NPR story this AM featured Adam Greene and MoveOn ad against the president. Such demonization of the president and disdains the people who would have lost out with hardball confrontational politics. Unlikely the next congress would pass such a stimulus. The assumption by the media represent the base is galling. We should all be writing ourcongesspeople to get this passed!

  5. Sadly the left has stopped listening. They have entered full Tea Party mode. All there is screaming, result all rational arguments are getting drowned out. I quick perusal of the comments in Leonhardt’s column seem to support this thesis.

  6. The liberal media is helping to divide progressives. I noticed that when Huffington post started attacking Obama over a year ago, his poll #s started going down. Do they really want a Republican President?

  7. Well Paul Krugman is now saying it not a bad ideal. Of course he put we need more.

  8. First thanks BWD. I too have stopped going to DK. It’s amazing to me that all these so-called leftists just sit around crying because the President of the US won’t fight their battles or organize a mass movement for them. It’s not Obama’s job to organize public opinion against the Republicans – that’s our job.
    I don’t agree with everything he does (like the Federal wage freeze) but this tax compromise is fine by me. That’s what I expect a President to do – compromise and get things done. I’m just thankful for every day he doesn’t throw up his hands and quit.

  9. On one level I hate seeing this – wish the tax cuts had just lapsed or we’d been able to get the 250K legislation passed. But on a more practical level this seems to me the best we were going to do. Everyone, including all the naysayers, knows that the Repubs were NOT going to agree to anything less than a continuation of tax cuts for all, but at least they’re not making them permanent. Obama could have fought them in the next Congress, but at what cost to the unemployed and struggling middle class? He would have been forced either to accept less than he’s getting now or nothing at all. Politically, this was a wise decision.

  10. Is this is sold as a second stimulus, I’m starting to worry that the GOP might block this.

    If there was a deal cut with the GOP – Who was in the room? McConnell? Gregg?

    I could see them coming back and saying “Our caucus isn’t going for it”. Because I could see 5-6 Dem Senators not going for it, meaning the GOP needs to be able to supply at least eight votes.

    Chuck Todd put the price tag for this tax cut/spending combo at $500B yesterday. It is stimulus spending in that it puts more money in the pockets without cutting any spending. So it’s adding $500B into the economy.

    The only worry about the Bush Tax cut extension extra for the rich is that they’ll just save up the money they would have had to pay to donate it to third party groups against Obama in 2012.

    Other than that, I think the GOP is coming to the realization that they might have been bamboozled. Remember Lieberman seemed open to lowering medicare to 55 during the HCR negitiations, but when Weiner was so excited about it Lieberman changed his mind and essentially said “If Weiner and progressives like the idea so much than I hate it”, If Weiner and his like, liked the deal than it would give the GOP and Conservadems real pause. They’d say “Hell they like it so much, it means we could probably get more out of Obama and the Dems”.

    I’m beginning to think that this deal will fall apart. When is the votes scheduled?

  11. And the squeals for primarying the sitting President take on more steam and GOS and FDL. Those people have officially lost their sh*t. I’d like to think that all of this is being pushed by a well funded Republican disinformation campaign, but I am afraid that they are just morons instead.

  12. HUH? WHA?!! Krugman said that? of course he would say we need more – that’s like a give with him. but that’s a given with anything that comes out of congress, period.

  13. If the media runs with it as a stimulus all the better because a lot of voters wanted that anyway. I hope this time people will know that Obama got them a tax cut since the fight over this was more public.

  14. Very good read. I agree with all of it, I find Sullivan hit or miss, but this was dead on. As I mentioned below, my biggest fear is that the GOP will back out of this deal realizing that they were played.

    Any idea when the votes would happen?

  15. You’ll here some people saying its a good deal or not a bad deal because they expected Obama to give the tax cuts away for nothing. They thought the UI extension was only going to be like 3 months. I don’t claim to be in Obama’s head but if he believed that Republicans were going to stand firm (as they always do) then he probably thought that he might as well get something for it.

    If this deal goes through AND Scott brown and Collins/Snowe give a yes on DADT then I think the left will calm down -1 decimal. If they flake on the deal then I would like for Dems in the Senate or Obama threaten to call it off.

    Would have been real nice though if they had included a tier 5. The left could have been using the past several days to help that group get something but,……whatever.

  16. Think about it can they back out now, he had them more on the rope then some thinks. they have to answer to the rich who backed them.Those who funded there midterm. If they back out, they will feel it.

  17. As to when the when I don’t know. As to Sullivan, I tend to read more that I like than dislike. He I don’t usually agree on economic issues except in one area. He and I are in total agreement that Republicans are fiscal frauds.

    I will always credit my brother, a Republican a very very moderate one, for drawing my attention to this Sullivan piece – Good-bye To All That that turned me on to Obama

  18. Heck, they’re even advocating at gos that losing 2012 will be good for dems. They’ve turned into the teabaggers they so fondly called names.

  19. Yeah, I kind of want people to hush up about the stimulus. No…Obama evil sellout…aaahhh…

  20. I wrote President Obama today, One to tell him he still had my full support. I thought today of all days he might like to hear this. Also I suggested that if he wanted to calm down the left he could come out and tell the Senate, in public, that now is the time to pass DADT repeal and if they decide not to then he will withdraw his appeal in the 9th Circuit of the Log Cabin case against DADT’s constitutionality. And just let DADT go away by court ruling.

  21. I’m loving coming here more and more… people can put their thoughts down without being hyper-extreme. I can actually read and breathe at the same time (unlike another unnamed place where you get shot if you say anything about our President in a positive or moderate note).

    Funny – when bush was in office, I had co-workers who said I was on the extreme left. Now that Obama is in office, I’m being told I’m a conservative Democrat.

  22. It’s embarrassing. I turned some folks onto GOS some years ago, and now that place has gone down a very dark hole from which I cannot see them escaping. I doubt any of the loudest have even read what’s going on. They just see the temp Bush Tax cut extension and freak out.

  23. Don’t listen to this crap. Don’t let anyone tell you that you’re not a “true progressive”. Just because the fringe went out of their collective mind – doesn’t mean they’re right. We didn’t have more Liberal president than Mr. Obama in 50 years.

    Thay are crazy, total loss.

  24. What liberal media? MSNBC who bends over backwards to keep Scarborough happy, and employs a former Republican in Ed Shultz who loves to rant and rave about how Obama is a sell out? Who puts Cenk Uyger on the air, another former Republican who now attacks the President on everything and anything, except under the progressive banner? Who had Markos on as a pundit of some sort, another former Republican bashing Obama as a progressive.

    Much like Shep Smith is the only honest journalist on Fox, Rachel is the only person worth watching on MSNBC.

  25. It’s pretty silly isn’t it. What’s going on with the label hijinks is that there is a cohort of people who think that they can push the Overton’s window to the left by labeling actual leftists as Republicans. I think that it’s not going to be a fruitful effort because it is dishonest. But that’s why liberals have been relabeled conservatives by some in the netroots.

  26. I still like Olbermann…of course, I have a huge crush on him so I’m probably not objective anymore.

  27. Funny enough, they don’t like being called “leftbaggers,” but if the shoe fits . . .

    They love to criticize the prez, but can’t take criticism themselves. That’s how you know they’ve nuked the fridge over there and entered la-la land. That, and a terrible diary by ghngost, or whatever his handle is, made the rec list encouraging everyone to take their money out of savings and stocks and put in silver in order to trigger an economic collapse. Yeah, that’ll show ’em.

    Rolls eyes.

  28. LOL I can relate, I’ve loved Obermann since his SportsCenter days. He has a tendency to over cook my grits but all in all he is a very intelligent, passionate man.

  29. ” I’m just thankful for every day he doesn’t throw up his hands and quit.”

    Boy, me, too. I am also very, very thankful he is not a quitter on anything. He will always get over 75% of what he wants.

  30. I’m too lazy to look back and see, but I seem to remember Kos pushing us to vote for quite a few of those Blue Dogs, didn’t he?

  31. I hear you there. I can’t visit that place (I know what place you mean) without being attacked and called names. The fringe left is just as vile as the fringe right.

  32. Ahhhh, it’s so good to receive your emails!! Sanity, at last……..THANK YOU!!!

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