More Bad News from The Hill

It seems Congress did manage to fix the debacle known as the Alternative Minimun Tax, which had started to encraoch upon the middle class in ways its framers had not expected. Trouble is, the fix leaves a $50 billion hole in the budget. Congressional Democrats tried to fix it by closing some tax loopholes like the one that allows hedge fund managers to claim all their income as a capital gain. Republicans blocked that attempt and so we go into the holidays with a bigger budget defecit.

Remember when it was the Republicans who were always prating on a bout a balanced budget and paying as you go. That restraint went the way of all worldy things as the Party came under the influence of increasingly narrow financial interests. Its really a watershed moment for the GOP.