POLITICS
12/06/2012 03:46 pm ET Updated Dec 06, 2012

Government Aid To Corporations Satirized In 'Miracle On Wall Street'

Budget negotiations have put a damper on Washington's holiday spirit, with House Majority Leader Eric Cantor (R-Va.) threatening to keep Congress in session through December, and Sen. Dick Durbin (D-Ill.) coining the term "Cliffmas."

A video released by the free-market advocacy site Crony Chronicles argues that many corporations have treated themselves to early presents through benefits including tax breaks and business incentives, with politicians calling the measures a way to contribute to economic growth and job creation.

In the "Miracle on Wall Street," a Salvation Army-esque Santa shares sidewalk space with a rather glum banker, who unsuccessfully solicits "a donation for my bailout" from passersby.

Watch the video:

A number of prominent CEOs have backed the Campaign to Fix the Debt, which advocates focusing on cuts to Social Security and Medicare, while their companies have benefited extensively from bailouts, contracts or tax breaks. Morgan Stanley, whose chief executive recently called for a "balanced solution" to the fiscal cliff, also lobbied for a tax exemption that would primarily help large banks and multinational corporations.

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