Four Strikes Is An Out; Obama Proposes Last Minute “Mini Deal” Essentially Scrapping All Cutbacks, While Adding Milk Lobby Bonus
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / December 28, 2012 1:25 PM
The one thing I am always afraid of in budget negotiations is that virtually nothing is done, or worse yet, something counterproductive is done.
Obama’s latest Fiscal Cliff “Mini-Deal” Proposal is exactly the kind of counterproductive nonsense I am talking about.
Assuming the above Atlantic Wire article is correct …
- The deal would delay or replace the vast majority of spending cuts called for in the automatic sequester.
- The deal would extend unemployment benefits
- The deal would stop planned cuts to Medicare reimbursements
- Out of the blue, and probably an attempt to buy farm-state votes, the deal purportedly would include a “milk fix” that allegedly would avoid a dairy market catastrophe created by the failure to renew the farm bill