WASHINGTON — President Obama announced a tentative deal with Congressional Republicans on Monday to extend the Bush-era tax cuts at all income levels for two years as part of a package that would also keep benefits flowing to the long-term unemployed, cut payroll taxes for all workers for a year and take other steps to bolster the economy.
The package would cost about $900 billion over the next two years, to be financed entirely by adding to the national debt, at a time when both parties are professing a desire to begin addressing long-term fiscal imbalances.
Hey, wait - didn't Obama just freeze the salaries of federal workers, including some making as little as $25,000 a year, because of concerns over the national debt?
And didn't Republicans run the midterm races talking about deficit concerns and warning of dire consequences to come if the debt isn't taken care of?
And yet they're funding the tax cuts by adding $900 billion to the debt?
Another fantastic example of hypocrisy in action in Washington D.C.