Some Daily Show clips and a discussion of the tax cut compromise

I've been neglecting this blog for quite a while now in favor of writing about soccer for Soccer By Ives and local news for The Westerly Sun. I can't promise that I won't neglect this blog again in the future. I rarely feel like writing in my free time, since I'm always doing it during my on-the-clock time. For now, though, I'd like to share some clips from the Daily Show with you and talk about politics.

First clip after the jump:

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
Lame-as-F@#k Congress
www.thedailyshow.com
Daily Show Full Episodes Political Humor & Satire Blog< The Daily Show on Facebook

Now, the tax cut compromise has since passed and been signed by President Obama, paving the way for votes on some of the other issues mentioned in the video. Today, Don't Ask Don't Tell was repealed, while the DREAM Act stalled. The Zadroga bill remains in limbo, but it looks like it should pass before the lame-duck Congress departs.

The compromise is great politics. It allows things to actually happen, for once, in Congress. The New York Times has already called it "a turning point" for the President, indicative of a new, more pragmatic approach. Of course, the president has offered compromises before and been roundly rejected, so the idea that the Republicans finally choosing to accept one is reflective of some kind of sea change from the Obama Administration is laughable.

Yes, the compromise is great politics. Unfortunately, it's TERRIBLE policy. How terrible? Another Daily Show clip, from which I will quote the relevant part:

And the winner is! Lower taxes and more spending? Wait, that wasn't an option. That'd be like, "Hey, you know how we'll all get in shape after New Years'? Laziness and bacon."

Throughout this debate, Democrats have said that extending the Bush tax cuts for families and individuals earning over $250,000 a year would add $700 billion to the deficit. That number is somewhat speculative, since budgets are reconfigured annually, while projections like that are based on recent years' numbers extrapolated. The fact remains, however, that cutting taxes is one of the most expensive things a government can do, because it simultaneously increases spending (on tax refunds to those that qualify) and decreases revenue.

For all their talk of fiscal responsibility, it seems bizarre that the Republicans would choose to make this one issue their "Holy Grail," as Obama described it in announcing the deal. Their reasoning is based on Ronald Reagan's famous economic theory: tax cuts for the wealthy stimulate the economy because they give more money to the people with the power to create jobs. Unfortunately, there has never been any evidence to support this claim, which is nevertheless viewed as scripture by the GOP.

So to recap: In order to get unemployment benefits extended for 13 months and votes on DADT, DREAM, and the Zadroga bill, Democrats had to agree to commit two more years to an economic policy that adds to the deficit and doesn't actually do anything to improve the economy.

GREAT.

At least there's the Daily Show's hilarious skewering of southern revisionist history to keep me laughing:

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
The South's Secession Commemoration
www.thedailyshow.com
Daily Show Full Episodes Political Humor & Satire Blog< The Daily Show on Facebook