That didn't last long

Matthew Hoy
By Matthew Hoy on April 24, 2009

I've only seen it reported openly on Fox News and in passing at Politico.com, but it appears that the "tax cut for 95 percent of Americans" will last all of two years before it dies.

To tighten future deficits, the deal requires Obama to accept reductions from his domestic spending plans and forego favorite tax cuts. But in turn, he is promised expedited consideration of healthcare reform under procedures that will allow him to sidestep the threat of a filibuster in the Senate no bill has been acted upon before Oct. 15. [emphasis added]

There's only one favorite tax cut that Obama's passed -- the $400 "Making Work Pay" cut.

This is going to be an ugly four years. Deficits and the national debt will be far higher than they were when Obama took office, and so will taxes on everyone, not just the "rich."

UPDATE!

I've found this lone AP story on the subject that appears to be future-dated for three hours from now which makes the point explicit.

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