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View Diary: Geithner Draws line in sand: No Rate hikes for 2% = No Fiscal Deal. Also, SS off table! (**Video) (259 comments)

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  •  Two things (2+ / 0-)
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    ozsea1, pistolSO

    The Bush Tax cut sunset date was pushed back two years.

    In a different negotiation, the 50/50 across-the-board spending cut "poison pill" was part of the 2011 credit limit deal. That deadline was set for about a year ago. When do deal was possible a year ago it was pushed up to Dec 31 2012 - the same as the Bust Tax Cuts sunset date.

    So actually it was a few events which combined to provide this leverage.

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