Republican Senator Jim DeMint appeared on the Hugh Hewitt Show and said he'd vote to filibuster the tax deal worked out between Senate leaders and the Obama Administration because it's a bad deal.
breitbart.tv - Jim Demint: Hugh, most of us who ran this election said we were not going to vote for anything that increased the deficit. This does. It raises taxes, it raises the death tax. I don’t think we needed to negotiate that aspect of this thing away. I don’t think we need to extend unemployment any further without paying for it, and without making some modifications such as turning it into a loan at some point.
So there’s a lot of problems with it. I mean, and frankly, the biggest problem I have, Hugh, is we don’t need a temporary economy, which means we don’t need a temporary tax rate. A permanent extension of our current tax rates would allow businesses to plan five and ten years in advance, and that’s how you build an economy.
Blog author's comments - Spending is out of control. The deal President Obama supposedly made with Republicans on extending the Bush tax cuts further expands the government with the extension of jobless benefits.
From what I have seen the plan calls for extending tax cuts from the Bush era that are due to expire at year's end, renewing jobless benefits through the end of 2011 and granting a one-year cut in Social Security taxes. The extension of the Bush tax cuts is only for two years. So how will businesses plan for long term goals with only a two year window?
Obama said he expects the unemployment rate to go down because of the compromise, although he would not predict by how much.
He also said he believes the jobless rate will recede because the economy is growing, even if businesses haven't yet picked up the pace of hiring enough to send large numbers of people back to work.
There has not been a vote in the House or Senate which means it is not a done deal.
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