Get It?

The payroll tax for social security has been cut by 2% for a year by President Obama and his victorious Republican allies, from 6.2% to 4.2%.

The first victorious attack on SocSec has been rather bloodless. So far, none of this has contributed to balancing the budget. And would someone please let the people in Washington know that if the higher unemployment is systemic, then all this tax cutting and destruction of SocSec won't do a thing to create jobs within the next 2 years.

Who's right? I stood on the run up to the Shock 'n' Awe Bowl and said it was a disaster in the making. My friends say that I was talking about economic disaster in the late 90's. It was a Montag-thing. Haven't been wrong in a while.

Update
12/7
Stocks went up after the deal was announced, leading to many shallow comments on how wonderful it was and how tax payers are cewlebratings; stocks ended down a bit for the day. There was not much comment at that.

Treasury bonds were being sold, as buyers found this deal what exactly I said it was:  a manipulation that makes the fiscal situation worse, not better as far as deficits are concerned.