Winston Churchill is credited with saying "America will always do the right thing, but only after exhausting all other options."
Well, that’s what happened last night in the US House of Representatives and the Senate.
The House passed the tax bill that will allow the current “Bush” tax rates to continue for two years. It also will extend the 99-week unemployment benefits law to another year and reduce Social Security taxes, called payroll taxes because they are most often deducted from pay checks, for one year. All these measures will stimulate spending and, it is hoped, encourage employers to take on more employees. The bill is now on the President’s desk for final approval. What the bill does not do is give relief to retirees who are now receiving Social Security, something that would have been more just and would also have increased spending immediately, since retirees usually spend all their pension every month.
Meanwhile the Senate finally came to its senses, after repeated thrashings in the media by conservative voters, and abandoned the budget bill that was loaded with earmarked funds for a lot of Senators who, only three months ago, were fervently opposed to earmarks. The budget bill will now be the responsibility of the new Congress that convenes in January.
That brings me back to Winston Churchill, the great man of the twentieth century. It really seems he was right. We can count on Americans to do the right thing, even if it is in extremis.
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