December 9, 2006


Congress Winds Down Session by Approving Tax-Cut and Trade Bills (DAVID ROGERS, December 9, 2006, Wall Street Journal)

Congress began heading home after approving major tax and trade bills and turning out the lights on 12 years of Republican dominance in the Capitol. [...]

The $45.1 billion tax cut measure, which includes provisions benefiting oil, coal and health-care interests, first passed the House 367-45 late Friday after Democrats narrowly failed 207-205 in a last attempt to disrupt passage with an amendment to the oil provisions.

The trade package, which mostly has an impact on Vietnam, Haiti and developing nations in Africa and South America, followed hours later 212-184. And on a lopsided 79-9 roll call near 2 a,m. Eastern, the Senate adopted both measures as a single omnibus package that Mr. Bush is prepared to sign into law.

A Party with an exemplary record on cutting taxes, freeing trade, and social legislation just ran a campaign on war and nativism. They pretty much deserved to lose.

Payroll gains exceed forecasts (JEANNINE AVERSA, 12/09/06, The Associated Press)

The nation's job machine is showing it is indeed sturdy — generating new jobs despite two out-of-whack cogs in the gears of the economy.

There have been fears that the woes of those two — the housing and automotive industries — might spill over and gunk up the rest of the economy, stifling overall job creation and the economic expansion.

But a mostly positive report by the Labor Department showed employers added 132,000 jobs to their payrolls last month, an improvement from the 79,000 generated in October.

Posted by Orrin Judd at December 9, 2006 9:31 AM
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