Evoking the harm apparently done to the economy by last year's debt ceiling debacle, Ezra Klein frames Obama's call today for a one-year extension of the Bush tax cuts for the lower 98% -- but not for the top 2% of earners -- as a political gamble. The looming fiscal cliff, Klein suggests, threatens to damage confidence this fall as the debt cliff did last summer; Republicans in Congress certainly won't accede to Obama's proposal before the election; and
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Plain sense, and a touch of nonsense, from…
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Evoking the harm apparently done to the economy by last year's debt ceiling debacle, Ezra Klein frames Obama's call today for a one-year extension of the Bush tax cuts for the lower 98% -- but not for the top 2% of earners -- as a political gamble. The looming fiscal cliff, Klein suggests, threatens to damage confidence this fall as the debt cliff did last summer; Republicans in Congress certainly won't accede to Obama's proposal before the election; and