DeMint says he'll vote against tax deal

Source: http://thehill.com/blogs/blog-briefing-room/news/132571-demint-says-hell-vote-against-tax-deal

A leading conservative voice in the Senate said Tuesday he will vote against the tax cut deal President Obama brokered with Republicans in Congress.

Sen. Jim DeMint (R-S.C.) said that he will oppose a potential cloture vote on the accord and a final vote if the package advances past a possible filibuster.

"No," the senator said his votes will be on the conservative Hugh Hewitt Show.

DeMint's stance indicates that a number of Republicans are not yet on board with the proposal in addition to a seemingly large bloc of Democrats in the House and Senate.

Senate Republican Leader Mitch McConnell (R-Ky.) said earlier Wednesday he is "pleased" with the deal and hoped that "a large majority of members of the Republican conference will find this a proposal worth supporting."

Sen. Bernie Sanders (I-Vt.), who has lead liberal opposition to the plan in the Senate, reiterated Tuesday that he is prepared to filibuster the deal after Obama held an afternoon press conference to sell the plan to skeptics.

Read more: The Hill

I'm more exited about the Sanders filibuster

It deserves to go down in flames

Those bastards are the ones our rage should be directed at. They're playing political games with peoples lives in order to get tax cuts for their millionaire friends. I'm pretty sure all Democrats want to end tax cuts for millionaires, and I'm pretty sure all Democrats want to see unemployment benefits extended. It's the fucking repukes I'm outraged at for using the plight of the unemployed to their political advantage.

It's pretty apparent that the members of our party who are in favor of this compromise had to swallow real hard before deciding to accept it, and decided that it was worth it to help the unemployed.

He's made enemies within the Senate over his endorsements of Angle, Miller and O' Donnell.

They better get some folks to oppose this--and fast.

The tax proposal is not only awful, it will likely crash the US bond markets...

Although debt-rating agency Moody's is afraid to cut the US's credit rating, I believe there will be an "unspoken" downgrade if/when the President's tax package passes, due to the amount it adds to the deficit. This, coupled with a "cross-contagion" association with state debt problems, and rising inflation (as illustrated by the recent Fed beige book), and the fact that the bond market is in a bubble, will likely lead to a bond market crash.

Tax cuts could hurt Moody's U.S. rating: report
SAN FRANCISCO (MarketWatch) -- U.S. sovereign debt ratings from Moody's Investor Service could be hurt by extended tax cuts in the long term, Reuters reported Tuesday. Moody's lead analyst for U.S. sovereign debt, Steven Hess, told Reuters he is not concerned by an extension of the Bush tax cuts on the U.S.'s AAA rating over the next 18 months to two years, but he is worried about what happens after two years when the extensions are set to expire again. "We have long term concerns about the (U.S. credit) outlook and they are not yet being addressed. We're waiting to see if they're going to be addressed in the next couple of years," Hess told Reuters in an interview.
http://www.marketwatch.com/story/tax-cuts-could-hurt-moodys-us-rating-report-2010-12-07

Here is the story about debt at the state level, in case you missed it:
Mounting Debts by States Stoke Fears of Crisis
http://www.nytimes.com/2010/12/05/us/politics/05states.html?_r=1&nl=todaysheadlines&emc=a2

Note especially the graph that comes with this story:
http://www.nytimes.com/imagepages/2010/12/05/us/05states_graphic3.html?ref=politics

I sincerely hope the whole rotten mess falls apart.