calling this a "compromise" is laughable imo.
I think it would have been better to say the tax on the wealthy expires in one year.
Obama knows that the November elections were a referendum on how he's led.
As for economic suicide - maybe, but I think it is more like government fiscal suicide. More deficits and a growing debt makes the future look bleak.
This is not so much suicide but rather a designed murder. Even during the relatively "good" times of 5 to 7 years ago the Republican tax cuts were unsustainable and doubled the national debt (which is fine if you are doubling it to lie your way into war. Doubling it to provide health care or unemployment insurance is verboten).
What the right wing in this country is looking for is to plunge the country into economic chaos as an excuse for ending the social programs that they are too cowardly to vote straight up on. They figure that a near economic collapse of the economy will provide both the excuse and the political cover to accomplish this. And, should economic conditions become too unstable, they figure their guns will protect them from the rabble.
Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.
Remember when unemployment was 26 weeks? Now, we have an "extension" of 56 weeks, on top of the 99 weeks!
Our debt problems have nothing to do with needing more taxes collected on top of the trillions of our dollars that the government already takes. Government spending is simply out of control, but our politicians are so eager to promise more and more money (like unemployment) to people in order to buy votes and keep their seats that they have no incentive to fix the real problem.
We need to get back to the Constitutional roots that this country was founded on.
"Resist, we much. Weï»¿ must, and we much. About that, be committed."
Constitutional roots as defined by whom?