White House Gives In On Bush Tax Cuts

[tsptalk]

I have not seen the overnight futures react to this, but it has to be good news for the market...

Fox News: White House Concedes on Upper Income Tax Cuts

Huffington Post: White House Gives In On Bush Tax Cuts

 

[tsptalk]

Axelrod Denies Obama Would Concede on Bush Tax Cuts

 

[James48843]

Don't count your chickens before they are hatched.

http://online.wsj.com/article/SB10001424052748703848204575608671524235254.html

 

[Silverbird]

Quacky Quacky, it's up to the Lame Ducks, not up to the President. He can say whatever he wants but until there's movement in Congress all bets are off.

It could be anything from extend the tax cuts indefinately (wait till you see the math since all calculations up to now end them now) to Gridlock and Nothing happens (OUCH!) or hopefully something in-between.

 

[Birchtree]

I think Obama should just resign. He has no credibility left. Biden would do a better job. The American population that counts has spoken.

 

[Silverbird]

I think Obama should just resign. He has no credibility left. Biden would do a better job. The American population that counts has spoken.

The population has spoken on taking the incumbents out of Congress. Biden, as good of a policy wonk as he is, has public moments of foot in mouth, which can be corrected in a one on one, but not very correctable on TV where they become two second soundbites (disclosure - I voted for Biden in the Primary).