DeMint: Tax Cut Compromise & Debate Should Wait for the Next Congress to be Sworn In

In an e-mail to supporters of his Senate Conservatives Fund, DeMint said waiting until the January arrival of many of the Senate Republicans, whom he helped elect this past cycle, would mean the GOP could “fight for a better deal.”

“I appreciate the efforts made by my party’s leaders to negotiate this deal but I believe Americans deserve much better. This deal should be rejected and then fixed,” DeMint wrote. “We can easily extend these tax rates without increasing spending once the new crop of Republican senators, including Pat Toomey, Marco Rubio, Rand Paul, Mike Lee and Ron Johnson are sworn in.”

For full article: http://thehill.com/blogs/ballot-box/senate-races/133105-demint-wait-for-marco-rubio-rand-paul-before-dealing-on-tax-cuts

RedState: The Tax Cut Compromise Needs to Die

House Democrats have rejected the Senate’s negotiated tax compromise. In a rowdy meeting in which one Democratic Congressman said loudly “F— the President,” the House Democrats turned Nancy Reagan and just said no.

Barney Frank still thinks it would pass, most likely with House Republicans.

But the deal must now die. It must now be opposed by Republicans. Released now in print, the legislation is loaded up with budget busting pork of ridiculously absurd levels. The attachments to the compromise represent everything wrong with Washington. Many of them mirror the same porkulus spending in TARP.

The GOP must now say no. GO TO THE REDSTATE ACTION CENTER RIGHT NOW and call your Senator.

For full article: http://www.redstate.com/erick/2010/12/10/the-tax-compromise-must-now-die/

Economic Scenarios: Bad and Very Bad !!

Right now, Goldman Sachs’ Jan Hatzius is speaking on a panel and just told the audience there are only two economic scenarios for the U.S. right now: bad and very bad.

Those scenarios are summed up as followed (via Jim Pethokoukis):

Bad: 1-2% GDP growth and an increase to 10% unemployment

Very Bad: Double-dip recession, based on Bush tax cut expiring and declining home prices

Goldman Sachs put together as presentation explaining their new bearish view on the economy, and it doesn’t make for easy reading. But if you want an understanding of the the terrible scenarios they’ve envisioned, check it out here. 

Click here to see the presentation >

Read more: http://www.businessinsider.com/jan-hatzius-very-bad-scenario-2010-10#ixzz11V4HwX7m