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View Diary: Why I'm demanding a better bill on tax cuts (181 comments)

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  •  The worst part is the part no one talks about (10+ / 0-)

    In 1999 at the end of his term as President, President Clinton helped engineer the end of Glass-Steagall Act.  This one act set the stage for the financial collpase that would take place 8 years later.

    Obama's Glass Steagall moment is the 'compromise' he made to give tax payers a holiday from paying a portion of their SS taxes for one year with the shortfall to be made up by the general budget.

    This act now effectively tears down the firewall erected purposely by FDR in which Social Security funds would be held seperately from the general budget so that in the future it could not become vulnerable to reductions in the budget.

    Obama has now breached that firewall and gone along with a co-mingling of funds.  If the payroll tax holiday gets extended for another year after this one, or becomes permanent then SS will be a part of the general budget and the Republicans can go after it in a way they never have before.  

    Of all the things, incomprehensible and totally incompetent, this President has done up to now this one thing takes the cake. He has betrayed the entire spirit of Social Security, made it vulnerable, and has set the stage for it's elimination in his one very stupid (or shrewd if he is a closet conservative) move.

    This is the worst of the worst in this bill.  It's also the bridge too far for me.  From now on, I'm no longer a supporter of this President.  I'm done. Let the barbarians come and finish the job Reagan started and Bush accelerated.  Our country is near the end of its days of glory.  Obama just took his car in the ditch and pushed it into the lake.  

    Go ahead bet against us. We're getting rolled.

    by Pacific Blue on Mon Dec 13, 2010 at 04:02:01 PM PST

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