Daily Political Wire 12-6-2010

George Wenschhof

Today, President Obama will visit Winston-Salem, North Carolina - He will visit a Community College and deliver remarks on the economy. You can read more here.

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Bernanke on "Sixty Minutes" - last night, the Federal Reserve chair defended his actions to date to stem the recession gripping America. He also called for a change in the current tax system which he felt was overly comprehensive and burdensome. The NY Times has more here.

A proposal also included in the recommendations released recently by the bipartisan deficit reduction committee.

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Tax Extension Compromise Expected to be Announced Soon - hardly a surprise. After, the show and bluster by Democrats in the House and Senate on votes to only extend tax cuts for those earning $250,000 or less. The compromise? a temporary two year extension of all the Bush tax cuts in return for an extension of the Obama middle class tax cuts and a one year extension of benefits for the long term unemployed. FirstRead.com has more here.
This deal could have been reached months ago without all the political theater.

An interesting note: The cost of this action will exceed the 800 Billion spent on the Stimulus Bill.... and Republicans say they oppose government spending?

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Meanwhile, U.S. Foreign Policy Remains a Question Mark - the U.S. is accusing China of enabling North Korea in it's nuclear development and looking the other way in regard to the latest military actions by North Korea directed at South Korea. The Washington Post has more here.

While, over in Afghanistan, U.S. General David Petraus says "success is complicated.. it will take a long haul and U.S. commitment". ThePage.com has more here.

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DREAM Act Passage Unlikely in Lame Duck - the vote is expected this week and the watered down bill to provide a pathway to citizenship for children of illegal immigrants who attend college or serve in the military is expected to fail. TheHill.com has more here.

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In case you missed the Sunday morning "Talking Heads", CNN has a quick look at the highlights below.



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