We have a bad economy. In that economy we have people out of work, people working on limited income, families making less than they did 10 years ago under Bill Clinton.

We need to continue those proposals supported in the kavipsian Economic plan. We need public works, we need business accelerated depreciation, we need unemployment benefits tied to public service, we need spending money put directly into the hands of the spenders.

All those things are good.

All those things were in the bill to extend the Bush tax increases for everyone making less than $250,000.

But Republicans said it would not pass unless all billionaires got Bush tax cuts too.

No billionaire benefit? No extended unemployment.
No billionaire benefit? No child tax credit for families.
No billionaire benefit? No tuition tax credits for families.

Because there was no billionaire benefit, everyone’s taxes would rise as the entire Bush tax plan expired.

Therefore, in Presidential negotiations, since he needed the continued stimulus, and he needed one or two Republican votes to get that, he give the billionaires their tax breaks. That way, the unemployed could get their money.

Therefore, when we have the wealthy making more money than ever, we will borrow money to pay for the deficit between the money we take in, and what we need to spend on our economy.

Obviously, the silver bullet is to extend the Bush Tax Cuts for those who need it, and let them lapse for those who don’t…

Don’t cut spending. When a government cuts back on expenses during a recession, it puts more, not less, people out of work. The recession then becomes a depression.