Oh Joy, a Compromise!

The Nobel Peace Prize

There is joy spreading throughout the land. Washington has agreed to a "compromise." A 60-day extension of what was supposed to a one-time reduction in the cash flowing going into the Social Security program (payroll taxes) has been universally labeled as "the right thing" to do by nearly all politicans and media alike.
The solvency of Social Security, which was already an actuarial nightmare before the latest "compromise," has been made even worse. And the great benefits to the "middle class" that will come as a result of this deal will come directly out of the cash flows that won't be going into their future retirement program.

Did Congress agree to this extension for another year so businesses payroll departments can make plans? Don't be silly! This extension is only good for less than nine weeks. The pitiful length of the nine week extension was characterized as "inexcusable" by President Obama just last weekend. However, yesterday, Obama was pleased with what was just five days ago......."inexcusable."

Oh Joy, a Compromise!