President Obama on Tuesday faced an uprising among angry Democrats who strongly opposed his deal with Republicans on tax cuts, opening a public rift that could prevent the White House from ending the year with a fresh dose of stimulus for the economy.Di-Fi voted for Obamacare, but I don't remember hearing any complaints from her about the "enormity of the package". She'll vote for it.
The Obama-GOP compromise would extend all the tax cuts that are set to expire Dec. 31, including for the wealthiest households; continue long-term unemployment benefits through the end of next year; give businesses a major tax break to encourage capital investment; and provide working couples as much as $4,200 in extra cash in 2011 through a one-year payroll-tax holiday.
The far-reaching package - which would add more than $900 billion to the deficit over the next two years, economists said - contains numerous other provisions, including extensions of smaller individual and business tax breaks that had been widely expected to lapse. Democrats expressed astonishment at the plan's scope and price tag, though they reluctantly conceded its potential to create jobs and boost consumer spending.
But they were furious that Obama capitulated to Republicans over the main provisions - an array of individual tax breaks signed by President George W. Bush nearly 10 years ago that have remained controversial.
Vice President Biden, who helped negotiate the accord, received a stony response when he pitched the package to Senate Democrats at a private luncheon Tuesday. Sen. Dianne Feinstein (Calif.) was among those who emerged unconvinced. "I'm just staggered by the enormity of this package," she said.
Dems know they're liberal left base is furious they didn't fight the GOP to the death and capitulated so easily, so they have to put on a show for the folks back home to make it look like they're angry. I'm sure they are angry that they've gone from powerful to impotent in an amazingly short period of time, but to fight this bill to the point of allowing tax rates to rise on every taxpayer would be incredibly foolish, even for them.
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