So they passed some sort of deal in the Senate last night, and expect the House to pass the same thing so the President can sign it and the "Bush Tax Cut" rates will stay in place for those making less than $450K, and the AMT will be "fixed" from here on out. Well, whoopee doo.
First reaction: good, I make well under that amount, and the Bush tax rates are just fine with me. I hope the child tax credit of $1000 per child stays in place, too, because I have five children now. I also like that they aren't cutting spending across the board, because my job (and thousands of others' jobs) depends on that same government spending.
Second reaction: WTF... This whole thing is simply unsustainable. The problem is that too much depends on government spending way beyond its means. See the links at the right to Vox, Karl Denninger, the Economic Collapse Blog. There is simply no way in hell that the current situation keeps working forward into the future. It must crash at some point. Yet, it doesn't crash.
The Democrats seem to think that this actually CAN go on forever. I don't see a crash yet, they don't see a crash yet. What the hell, maybe they're right.
All I know is that for now, at least, my job should be safe and I can continue to support my family a bit longer.