In The News Today

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Jim Sinclair’s Commentary

Political priorities run the Western world. If you really believe that QE is not and will not occur to infinity you are an ostrich with your head stuck in the ground.

If you think there is willingness to address the debt problem via austerity anywhere in the Western world you are in for a shock.

House Republican Leaders Agree to Payroll Tax Deal
Thursday, December 22, 2011 — 4:57 PM EST

Bowing under intense pressure from members of their own party to end the politically damaging impasse over a payroll tax holiday, House Republican leaders on Thursday agreed to accept a temporary extension of the tax cut, beating a a hasty retreat from a showdown that Republicans increasingly saw as a threat to their election opportunities next year.

Under a deal reached between House and Senate leaders — which Speaker John A. Boehner was presenting to the rank and file in an evening conference call — House members would accept the two-month extension of a payroll tax holiday and unemployment benefits approved by the Senate last Saturday while the Senate would appoint members of a House-Senate conference committee to negotiate legislation to extend both benefits through 2012.