Tax cut deal

I woke up early to get ready for another day of training and was surprised to read the details of the tax cut compromise.  Ezra Klein summed it up well:

So is this a good deal?  It's a lot better than I would've told you the White House was going to get if you asked me a week ago.

Obama's capitulation since this election had many of us fearing he'd completely cave.  He didn't.  The worse thing the government could do right now is contract spending like state and local governments are to balance their budgets.  The private sector is adding jobs and the last thing this economy on life support needs is the federal government taking them away.

Somewhat related:  I always knew Krugman was a god, but if there are any doubts read his column from February, 2009.  He very correctly assessed how bad the economy was and how the stimulus would not help enough.  He also correctly nailed the politics being played by the Republicans.