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Greg Sargent: The President is set to hold another event today urging the House GOP to support the Senate payroll tax extension compromise…. A White House official emails that Obama today “will be joined by Americans who would see their taxes go up if the House Republicans fail to act”.
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Washington Post: House Republicans faced mounting pressure Wednesday from critics inside and outside Congress who worry that their standoff with President Obama over whether to extend a payroll tax cut could do lasting damage to the GOP.
… The Wall Street Journal’s editorial board captured the frustration among Republicans in the paper’s Wednesday editions, asking whether the GOP’s handling of the tax debate “might end up re-electing the President before the 2012 campaign even begins in earnest.”
Sen. Bob Corker (R-Tenn.) said the House GOP must get past the issue. “Are Republicans getting killed now in public opinion? There’s no question,” he said Wednesday on CNBC. “Both Republicans and Democrats have agreed that this is going to happen, and probably the best thing to happen now is just to get it over with.”
More here
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Marketwatch: The number of Americans filing initial claims for regular state unemployment-insurance benefits fell 4,000 to a seasonally adjusted 364,000 in the week ended Dec. 17, reaching the lowest level since April 2008, the Labor Department reported Thursday.
Economists surveyed by MarketWatch had expected that claims would rise to 375,000, while remaining at levels historically associated with an improving labor market.
The four-week average of initial claims – a smoother gauge than the weekly data – fell 8,000 to 380,250, the lowest level since June 2008.
More here
Steve Benen: It’s generally wise to avoid sweeping conclusions about week-to-week changes in data like this, but when these jobless claims fall below the 400,000 threshold, it’s evidence of an improving jobs landscape. When the number drops below 370,000, it suggests jobs are actually being created rather quickly.
More here
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Michael Tomasky: President Obama has had an awful year. But thanks to the politically asinine miscalculations of House Republicans, he’s ending 2011 with a bang.
For a bunch of people who don’t believe that Barack Obama celebrates Christmas, Republicans sure are going out of their way to make sure the president has a merry one. The short-sighted stupidity of the House Republicans is hardly to be believed. The presidential nomination contest is as unsettled as ever and still features a bunch of candidates who are about as appealing to most Americans as Aunt Gladys’s fruitcake.
…. It’s all a reminder that Obama won’t be running just against a Republican candidate. He’ll be running, as he has been, against a Republican Congress. And the public is finally getting the message that they are breathing a different kind of air from the rest of us.
More here
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Paul Krugman: David Roberts reports on the EPA’s decision, finally, to regulate mercury from coal plants … it will save tens of thousands of lives every year and prevent birth defects, learning disabilities, and respiratory diseases. This is actually a much bigger issue, when it comes to saving American lives, than terrorism.
…. The point that strikes me most, however, is that this shows that it matters who holds the White House. You can complain about Obama’s lack of a strong progressive agenda, which I sometimes do, or wonder what good it is to hold the White House when the other side blocks every attempt to do good through legislation. But mercury regulation would not have happened if John McCain were president.
Elections have consequences, and this is one delayed consequence of 2008 that will make a big difference.
Full post here
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Morning everyone 😉
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