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Debt Ceiling Madness Goes to the Wire

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albusteve7/26/2011 1:57:07 pm PDT

re: #66 simoom

The problem with the tax cuts was that Dems in congress were never willing to let them all expire, as they’d all campaigned on promising the preservation of the sub-250K part. So any threat to do nothing and let them all expire was entirely empty on the Dem side, especially right before an election where they’d be nailed to the wall with a such a major broken promise.

I think it would have been the smart thing to do at the time…we’ll never know now