In his first television interview since his re-election, President Obama pushed his proposal to avert the so-called "fiscal cliff" but also signaled that he is open to some movement on some key components of his proposal, including raising taxes on the wealthy.
Are we surprised? I'm not. Nor that Caldwell also reports that Barack's saying he'll be 'flexible.'
Of course he'll be flexible. The entire point of this 'fiscal cliff' creation is to gut the safety net.
In more bad news, Barry Grey (WSWS) explains:
Following a dismal report last week on retail sales for November, the first month of the holiday shopping season, manufacturing data released Monday confirmed that the US economy is weakening.
The Institute for Supply Management (ISM) issued its purchasing managers’ index (PMI) for November, showing an unexpected contraction in manufacturing to the lowest level in three years (since July 2009). The index fell to 49.5 from 51.7 in October. Any number below 50 indicates a contraction of factory output. Most analysts had predicted a figure well above 51.
There was no recovery. But enough foolishly believed there were long enough to give Barack a temporary boost for the elections.
The Great Recession is back and just in time for holiday shopping.
This is C.I.'s "Iraq snapshot" for Tuesday: