Buried within the “fiscal cliff” deal was a massive piece of Corporate Welfare for pharmaceutical giant Amgen. That’s not surprising given that the tax increases in the bill were completely offset by the Corporate Welfare stuffed into it – so a huge waste of time deficit wise. But the Amgen subsidy is causing consternation given both the amount and Amgen’s recent misconduct.
|By: David Dayen Thursday December 13, 2012 7:31 am|
Fiscal slope talks have basically stalled out, but leader in the conservative movement Jim DeMint cried uncle this morning, affirming that the President will get higher taxes, though he exaggerated it to mean higher taxes on everyone, not just on those earning over $250,000.
|By: David Dayen Saturday July 23, 2011 11:00 am|
This gamesmanship at the end of the process blew up what would have been a substantial deal, with well over $3 trillion in spending solutions, more like $4 trillion if you include the foregone debt payments that would result. And yes, the accounting gimmick on the wars in Afghanistan and Iraq accounts for a full trillion dollars.
|By: David Dayen Monday April 18, 2011 2:50 pm|
It’s all very precious. An entity funded by the big banks makes a judgment (which shouldn’t be seen apart from their other discredited judgments) about the debt. The party most allied with the big banks uses that judgment to demand that their preferred policy, which doesn’t reduce the national debt for THIRTY YEARS, must be enacted immediately. Incidentally, that preferred policy reduces taxes on the rich, including the rich executives at the big banks.
|By: David Dayen Thursday December 9, 2010 9:35 am|
House Democrats, after taking an internal vote, decided against bringing up the Obama-brokered tax deal in its current form.
|By: David Dayen Monday December 6, 2010 6:30 pm|
Senior Administration officials tried to cast their deal on the Bush tax cuts in a positive light, even as forces on the left and right were mobilizing against it. The deal is so shaky that the White House officials and the President would only call it a “framework.” Several Democrats and Republicans in the House and Senate are already either simply opposed, or dedicated to mobilizing for defeat of the package, and the Senate Majority leader delivered a terse one-line statement only agreeing to discuss it with his colleagues. The biggest news here is that this deal isn’t done.