Okay. It looks like the Bush Tax Cuts will be extended for two more years and will apply to all Americans, including the richest 2%. If you don't know who the richest 2% are and how much wealth they hold, please see a previous blog post here and here.
I'm mad. I was hoping that this campaign promise was going to be one that he kept. I'm looking for blue skies in this storm that is brewing in DC. Now every pundit in the world will have an opinion about what this means, how Obama came off, blah, blah, blah, blah.
I understand and I can live with this. For now. I am more concerned for those millions of people who were going to lose their unemployment benefits immediately. I am more concerned that the other 98% won't see their taxes increase on January 1, 2011.
I am going to bet on this President again. I think he is the only adult in the sandbox and I can understand why he is breaking his promise. As he said in his briefing today. He did not want to see the collateral damage to the hostage middle class, so he gave in to those who would hold us all hostage...the Republicans. It was more important to act now for the majority of the people and deal with the issue of the Bush Tax cuts over the next two years when they come up for an extension again.
A lot can happen in the next two years. I'm going to support the grown up.