UPDATE: Calls, emails and tweets running overwhelmingly against so-called compromise. Consensus: Why did we work so hard for so little? A squandering of momentum and good will, energy and the opportunity to make the case for stable, low tax rates as the key to economic growth as well as the immorality of the death tax. GOP presidential candidates should denounce the deal.
UPDATE 2: Michele Bachmann begins to organize the GOP opposition to the “deal.” For the sake of the country and the GOP I hope she succeeds in rallying the rank-and-file to reject this proposal. This is like TARP without the urgency of a genuine financial crisis pushing the bill forward. GOPers who vote for this will find that vote stapled to them for years to come, or until they lose to a primary challenger in 2012.
This goes to the inability of the GOP to ever fight on key issues, and reflects the same ill-considered negotiation strategy that led to the Gang of 14 and the immigration compromise of three years ago. The country just voted overwhelmingly for low taxes and spending cuts and the GOP just agreed to much more spending and temporary tax cuts which will not provide businesses with the environment of stability necessary to investment and job growth.
The scope of this miscalculation is deeply dispiriting.