Some, Including myself, think this is a political move by both sides.
If we miss the deadline, tax cuts will expire, and major cuts will happen correct?
So all of the sudden we have tax increases for everyone, and our military budget gets slashed significantly as well as other programs.
The compromise on this is that if the tax cuts expire the GOP can say they didnt personally vote for a tax increase, thus keeping their pledge. The Dems will immediately push or a payroll tax decrease or the tax cuts for the first $250k of income leaving the rich to bear the burden of the increased taxes.
Secondly, with the cuts in taxes, the GOP and DEMs will have to put forth a bill increasing Spending on military and other such interests, if they can compromise on where the moneys should go.
Regardless something has to be done. Its not only on the presidents shoulders as the GOP and their cohorts will have you believe. The presidents budgets need to be put through congress and the senate in order for them to pass.
http://en.wikipedia.org/wiki/United_...budget_process
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