12/31/2012 02:45 pm ET Updated Mar 02, 2013

Democrats' Cliff Compromise Is Bad; But The Strategic Consequences Are Disastrous | The New Republic

I'll be blunt: I hate the fiscal-cliff compromise that Mitch McConnell and Joe Biden are hammering out today, which will make the Bush tax cuts permanent on income below $450,000, renew the current, relatively generous, level of unemployment benefits for a year, along with some low- and middle-income tax credits, and grant the GOP a reprieve on the scheduled reversion of the estate tax to its Clinton-era setup.

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