Wednesday Reads: Flowered Floats and Fiscal Cliffs and Fruitless Lawsuits

3f05186vGood Morning

How did y’all spend your first day of 2013?

Were you watching the fiscal “parley” of enemies down in the swamp?

After seeing what as become Obama’s calling card, his apparent need for approval and for people to “like” him…that makes Obama a shitty negotiator, I could not stand the constant cliff talk on all the news channels.

If, you avoided the news frenzy over the fiscal bunny slope, as Dakinikat calls it, you can read the updates as it happened here. Boston Boomer also posted this link in the comments, you should not miss it:

Political Animal – Obama and the Anxieties of the Financial Meritocracy

Otherwise, you can take a look at the following two articles:

‘Fiscal Cliff’: Congress Passes Compromise to Avert Recession – ABC News

Amid Pressure, House Passes Fiscal Deal –

(Check out Biden’s grin at that NYT link…he sure is pleased with himself.)

Yesterday was the 124th Tournament of Roses Parade . The still make those floats out of all natural flowers and plants, and even though the Rose Parade commentary can be annoying as hell, I still like to see the pictures of the floats and performers.

FireShot Screen Capture #369 - 'The 124th Tournament of Roses Parade I Jan_ 1, 2013 - Framework - Photos and Video - Visual Storytelling from the Los Angeles Times' - framework_latimes_com_2013_01_01_2013-rose-para

Dole’s “Dreaming of Paradise” float, love the flaming volcano! Click image for more photos of the parade.

This year Dole won the top trophy, the third time in a row…The colors are wonderful and brilliant, way much nicer than the other tropical color we have seen a lot of lately. You know, that tangerine orange skin tone of the big man on the hill.

Blossoming with lush tropical flowers and fresh fruits grown by Dole just for the Rose Parade, the award-winning float “Dreaming of Paradise” honored the independent family farmers from around the world that Dole partners with, and paid tribute to the beauty and bounty of Latin America’s tropical paradise.

The float, which heralded Dole’s mission of being actively involved in the communities of independent family farmers, also served as a reminder that with responsible, sustainable growing and operating practices the dream of paradise can remain alive.

To capture the essence of a tropical landscape, the Dole float featured a 26-foot erupting volcano complete with smoke and real fire shooting 20 feet into the sky over prowling tigers, fluttering butterflies, chimpanzees, parrots, dragonflies and three life-like waterfalls cascading more than 1,000 gallons of recycled water. Fully completing the spirit of Latin America, twenty Costa Rican dancers dressed in traditional costumes performed alongside the exotic and rare flowers from around the world.

That Paradise float is over 22 tons! Ooof!

FireShot Screen Capture #370 - 'The 124th Tournament of Roses Parade I Jan_ 1, 2013 - Framework - Photos and Video - Visual Storytelling from the Los Angeles Times' - framework_latimes_com_2013_01_01_2013-rose-para

This image is also from the parade, you can click that photo of the Korean dancers to see more Rose parade pictures.

Of course, New Year’s Day does not only bring floats of flowers, it also brings plenty of college football. One state university that was nowhere to be seen on any bowl game field was Penn State. Their football program was punished by the NCAA for ignoring the obvious child abuse that was taking place within their “winning” football machine. A punishment that I thought lacked enough oomph in relation to the level of pain and trauma Penn States non-action caused. Well, guess what? The State of Pennsylvania is suing the NCAA. Money is honey and it is all that matters. State of Pennsylvania to file lawsuit against NCAA

Pennsylvania Governor Tom Corbett will announce a federal lawsuit against the NCAA tied to the historic sanctions levied against Penn State in the wake of the Jerry Sandusky scandal. Corbett will hold a press conference on Wednesday morning in State College, Pa., to announce the suit, which will be filed by the state.

Penn State, which has been working in concert with the NCAA since the scandal, is not involved in preparing the suit. It is being handled solely by the state.

Corbett’s office has been vague in regard to the specific aim of the suit, but it appears to be dedicated to the overall sanctions issued by the NCAA in July. Corbett referred to them on Tuesday as “illegal sanctions.”

A wholesale suit against the NCAA by a third party as powerful as the state of Pennsylvania could loom as an important case in testing the ultimate power of the NCAA.

This suit against the NCAA could also have repercussions with any civil cases yet to be brought against Penn State University, as well as, the State of Pennsylvania because PSU is a state-run university.

Another possible suit that floated about news headlines this past week was proposed by the parents of a surviving victim of the Sandy Hook Shooting. However, it required prior approval by the state’s claims commissioner for the lawyer to even file a lawsuit against the state. Though the child’s attorney has withdrawn the request, I still feel it is an important issue that needs to be addressed.

The State of Connecticut has some of the most wealthiest residents in the nation, it also has a law that gives the state sovereign immunity against lawsuits…the only one in the country were only one person has the power to approve a suit brought against the state.  Check this out…for an Attorney to seek permission to sue the State they must first get one man to sign off on it. For a…

…lawsuit to proceed…(you) need a single man in an obscure agency in Hartford to agree — J. Paul Vance Jr., the state’s claims commissioner.

Vance’s power is unparalleled. Connecticut’s system, experts say, is unlike that of any other state.

“From the lawyers I have spoken to in other states, this is not something they have ever heard of,” said David Cooney, immediate past president of the Connecticut Trial Lawyers Association.

Seems like this one man is the all powerful Oz when it comes to “who” can hold the state accountable for their actions.

The position, which dates back to the 1970s and is appointed every four years by the governor and Legislature, determines whether many types of claims of damages or injury lodged against state government are “just.”

The commissioner, after reviewing evidence and if necessary, scheduling hearings, can: Approve immediate payment of claims worth $7,500 and under; recommend the General Assembly pay or reject claims over $7,500; and allow lawsuits against Connecticut to proceed.

His decisions can only be appealed to the Legislature.

According to a decade’s worth of reports, the fewest number of claims submitted were 288 in fiscal year 2006-07, with the most — 586 — in 2004-05. Since 2004, an average of two dozen lawsuits have been allowed to proceed each year.

Hey, the state’s claims commissioner is an important and influential post. I’d imagine this dude has many ethical decisions to make every day…not just whether lawsuits are justified to move forward, but also addressing any conflicts that arise from who or what company this commissioner associates with…I mean, this is a sensitive position to hold.

The role of the claims commissioner originates with the principle of sovereign immunity: Governments should be protected from paying damages private citizens can be held liable for.

“Sovereign immunity is something we got from England,” said Richard Kay, a University of Connecticut law professor. “It originates in the phrase, `The king can do no wrong.’ Nonetheless, in modern times, given all the things a state does … you want the state accountable for its wrongs.”

So, Kay explained, processes were established for states to grant the right to be sued. Initially in Connecticut, claims were filed with the General Assembly, then a commission was created and whittled down in the 1970s to one person.

Michael Tardif, a Washington-based lawyer who in 2005 helped author a report on sovereign immunity, said many states have decided to waive that protection, instead setting damage caps to protect finances.

“In most you can go to court and file a lawsuit,” Tardif said.

Other states may also have commissions or boards that must approve lawsuits against the state, but they have several members who must vote on whether the suit can go forward or not. In Connecticut, only one man holds ALL the cards.

“It’s a bizarre, convoluted and arcane system,” said state Sen. Andrew Roraback, R-Goshen, a senior member of the Legislature’s Judiciary Committee, the first stop for claims appeals. “Hopefully it weeds out bad claims. The risk is it also weeds out legitimate claims.”

Cooney, who has handled around two dozen claims cases, argued, “You have one person who has the complete discretion to say either you can file a lawsuit or not … I don’t see any reason why the state should have this mechanism in place to make it incredibly difficult to sue the state when no other corporate entity or individual has the same shield.

“If a judge hears it and there’s no legal basis for a claim, the judge will render a judgement for the state,” Cooney said. “Our clients would feel they’re getting a fairer shake because they get their day in court.”

And just who is this man? Well, his name is J. Paul Vance Jr., and he gave up his Waterbury mayoral bid when he was first appointed to the position by Gov. Daniel Malloy in the Fall of 2011. (You can read about the politics of this appointment here.)

Vance, Jr’s comments have caused some concerns from litigation lawyers in Connecticut. When he was given the claims commission job, Vance’s comments to the Waterbury Republican American were:

“I’ve always been a litigator, primarily defense, so this is the perfect fit for me.”

According to Bridgeport Attorney Charles Willinger, who represents the victim of a chimp attack and has been waiting for Vance’s decision on their request to sue the state.

“The claims commissioner has been described by the Connecticut Supreme Court as `the conscience of the state.’ What he is supposed to be doing is not defending the state against claims.”

Vance declined to discuss pending matters, but he said he knows his responsibilities.

“My job is not to protect the state,” Vance said. “It’s to make sure it’s a fair process for people.”

“There is that (sovereign) immunity, and there are situations where that immunity should be yanked.”

That is a huge responsibility for Paul Vance Jr. to hold, and if the claims commissioner’s name sounds familiar, it should. His father is J. Paul Vance, Sr., the official “spokesman” for the state police in charge of the Sandy Hook investigation.

We have seen Vance Sr. in action during the past few weeks giving information, or should I say…not giving information, during press conferences about the Newtown shooting.

I’ve stated repeatedly that I have a gut feeling about the peculiar attitude of Lt. Vance Sr. at these press conferences. There is something strange about the lack of information coming forward too. As Dak mentioned in a comment a few weeks ago:

….people are trying to understand what caused this to happen or at least what factors contributed to it. The only thing that I’ve noticed about this particular shooting is that the police haven’t been very forthcoming with anything. In some of the other shootings, we had all kinds of people coming forward and the police offered up a lot of different bits and pieces of information. The Head of the State troopers hasn’t been saying anything which leads to all kinds of rumors and speculation as people try to understand how something this horrible could happen. I think it’s just people looking for answers when no information has been forthcoming from the traditional sources. Think of how we knew immediately from the Aurora Mall shooter’s school and the Tuscon Mall shooter’s school and parents about their issues. They both had to even go through the criminal justice system so it’s rather odd that the Connecticut State Police seem so tight about whatever it is they have. Again, I think it’s just rampant speculation because no has come forward with anything concrete. Probably doing the community a lot of injustice and likely the shooter and his mom who both are the sources of all kinds of media rumors.

I got the impression Lt. Vance was very defensive about giving information on the investigation. You can click this link below to review the press conference I am talking about:


Lt. Vance has a defensive attitude about his position as the singular voice of authority for all the various agencies investigating the shootings.

Maybe that has something to with Lt. Vance’s immediate family connection to the man who must approve any lawsuits the shooting victim’s families bring against the state.

Sounds like a conflict of interest to me…

And there is a difference in the tone and substance of the information they are releasing.  Take the Columbine shooting, and how that was handled in the press:

Officials In Newtown Follow A Well-Worn Media Script

In setting himself up as the sole source of reliable information, the state police spokesman was following a well-worn script for getting control of a big, growing story, says Steve Davis, who experienced similar challenges as the official liaison to the media covering the 1999 mass shootings at Columbine High School in Colorado.

‘Brutally Honest’ When Needed

On the day of the Columbine shootings, Davis was on the phone and first realized something was wrong when officers rushed out of the office. Within minutes, he was in a car on his way to the high school, trying to make sense of dozens of early and contradictory reports.

“I know it’s hard to imagine now that it could have been any worse, but there were reports that day that we had as many as eight gunmen in the school. Some were [reportedly] hiding in ductwork,” remembers Davis, who is now the spokesman for the police department in the Denver suburb of Lakewood.

Davis said he told reporters at Columbine, “Look, let’s try to understand that there’s going to be a lot of misinformation here. I will try to confirm it and reconfirm it before I give it to you.”

But Davis said he also was “brutally honest” when needed. “Sometimes I had to tell them, ‘You know what? I do know the answer to your question, but … I can’t release it quite yet.’ “

He set up on-the-hour news conferences to keep reporters informed and control the flow of information.

“A big part of each news conference was just rumor control,” Davis says. But he took all questions and did his best to get timely answers for reporters, he says.

Davis seems to have been genuinely concerned with relaying information to the public, more forthcoming with information and less arrogant with his attitude.

Considering the state has also decided to keep affidavits and warrants sealed, is there something the state wants to keep out of the press?  Sandy Hook affidavits remain sealed

A state Superior Court judge said Thursday that search warrant affidavits for the cars and home of Sandy Hook Elementary School shooter Adam Lanza and his mother would stay sealed for another 90 days.

Judge John Blawie granted motions filed Wednesday by Danbury State’s Attorney Stephen Sedensky to extend the statutory sealing period for the five warrants, including three for the Yogonanda Street home where the 20-year-old Lanza fatally shot his mother, Nancy, four times in the face on the morning of Dec. 14, before embarking on the rampage that left 20 first-graders and six educators dead.

The judge’s order also covers the two other search warrants, for the 2010 Honda Civic Adam Lanza drove to the school and for Nancy Lanza‘s 2009 silver BMW, which was parked in the garage attached to the home.

“The court finds that due to the nature and circumstances of this case and the ongoing investigation, the state’s interest in continuing nondisclosure substantially outweighs any right to public disclosure at this time,” Blawie wrote.

Those warrants and affidavits would have been made pubic 14 days after the being filed with the court.  Danbury’s State Attorney Sedensky said…

 …his applications that the affidavits contained information “not known to the general public” and that premature disclosure would “seriously jeopardize the outcome and success of the investigation” by “divulging sensitive and confidential information” known only to investigators.

Although no arrests have been made and “none are contemplated,” Sedensky also said the possibility has not been ruled out, and that releasing the information would make it difficult to solve crimes that others might have committed.

I understand the need to control the information coming out, and keep rumors and false media reports at bay, however much of the information first given by Lt. Lance was incorrect. (Like the name of the shooter, the weapons used to kill the students and faculty, etc.)

We have heard absolutely nothing new from Lt. Lance, in fact the only recent update to the investigation is reported by The Hartford Courant: Police To Re-Create Scene Outside Sandy Hook School

State police are considering partially re-creating the scene outside the Sandy Hook Elementary School in Newtown on Dec. 14 as the first police officers responded to the mass shooting to try and answer a nagging question: Did Adam Lanza fire at police officers?

Police are discussing bringing back some of the cars that were in the school lot as the first Newtown officers and state police troopers arrived following 911 calls that was a shooter was on the loose. The cars will be placed exactly where they parked that morning as will the police cruisers of the first responders. The plan is to receate the scene in the coming week.


Police have found numerous bullets outside the school that hit at least three cars, including the one owned by Lauren Rousseau, who was killed by Lanza in her classroom along with 14 of her students and a special-education aide. The three cars that were hit, belonging to Sandy Hook staffers, were near where at least one of the first group of officers parked before running into the school, sources said.

Why weren’t these bullet holes investigated earlier?

Sources said the bullets that hit cars outside probably were fired from teacher Victoria Soto’s room. That was the second room Lanza entered as he firing at teachers and students. Soto and her aide, Mary Ann Murphy, were killed there, as were six students. Six other children escaped because, police believe, Lanza stopped firing briefly either because his gun jammed or he had trouble reloading his gun. Seven other students survived because Soto hid them in a closet.

Investigators are trying to determine if the bullets fired into the parking lot were strays as Lanza fired in Soto’s classroom or if he saw officers arriving and fired through the window at them. Investigators have done trajectory work in the classroom but now want to line up the police cars and see if it is possible some of the bullets were aimed at them.

No cruisers were hit and none of the officers interviewed so far has indicated that they were shot at. But several of the officers involved in the initial response have not been interviewed yet because they are still traumatized and they may not have realized they were being shot at as they ran towards the school.

Now, that article was published on Dec. 29th…and it states several of the initial response officers have not been interviewed yet? That seems strange to me….what do you think?

The partial re-creation will likely be one of the last things state police do at the school before wrapping up that part of the investigation. There are no plans to recreate what happened inside the school or to interview any of the students who survived, police say.

Well, it seems like police should talk to the students who survived for possible information relative to the case, it would also help these kids talk through this violent shooting that will affect them for the rest of their lives.

There have been several shooting deaths since the Sandy Hook massacre, and we know more about those crimes than we do about this shooting in Newtown. Think back to the information that was released in the days and weeks after the Holmes shooting in Aurora. The press had plenty of reports about James Holmes and what evidence they had found.

I sound like one of those conspiracy nuts, but there is a nagging in the back of my mind, and I can’t quiet let it go.

So, that is what I have for you this morning, be sure to post links to what you are reading today…hope to catch up with you later in the comment section.

44 Comments on “Wednesday Reads: Flowered Floats and Fiscal Cliffs and Fruitless Lawsuits”

  1. bostonboomer says:

    Good morning, JJ. Thanks for keeping us updated on the Newtown story. I heard yesterday that the lawsuit has been withdrawn after lots of negative responses on facebook. I didn’t read the details.

    • bostonboomer says:

      Reuters: Lawyer who filed and quickly withdrew $100 million lawsuit tries to explain.

    • I just woke up, feeling real sick…yuk.

      • ANonOMouse says:

        uh, oh. Did you catch the flu from your daughter? If it’s the flu you might need to go get the meds that counteract it before it takes you all the way down. I think it’s called tamiflu and you have to begin it within 24-48 hours of symptom onset, I’m practicing medicine without a license, again!

      • Beata says:

        I woke up sick, too. Fever and the whole bit. I think it’s the post-fiscal cliff flu.

      • ANonOMouse says:

        Beata……If you think it’s the flue don’t let it get out of control before you go to the Doc. This years strain seems to be particularly nasty. Take care girl.

      • Beata says:

        Thanks, Mouse. I am rather worried because I’m at high-risk for other complications. I can’t take Tamiflu. It can cause seizures. Ugh. What a way to start the year.

  2. bostonboomer says:

    I just listened to about an hour of Morning Joe with Tom Brokaw, Dan Senor, etc. The entire focus has been on the need to cut Social Security, Medicare, and Medicaid and on the national debt. No discussion of jobs or unemployment or growing the economy–just austerity.

    I wonder what they think will happen when they take away the sole source of income for millions of elderly and disabled people and cut health care for those same groups along with poor families with children? At least that money goes back into the economy instead to foreign tax shelters.

    Oh, and some of these people think the Republicans should refuse to raise the debt ceiling and let the U.S. default on its debt. Joe Scarborough said there should be a debt ceiling fight once a week until spending is cut dramatically!

    And it appears Mika has been completely brainwashed and has gone over to the other side. She, too, is upset because Republicans haven’t cut the “national debt.” I’m not sure if these people even know there’s a difference between the debt and the deficit.

    • ANonOMouse says:

      I watched Morning Joe too BB, I was sickened by the talking head hysteria over the safety nets. I can’t believe the level of hand wringing and whack-a-doodle solutions that this mornings lineup of PUNIDIOTS produced. Their “we must face” the tough choices talk is likely a foreshadowing of what we’re going to be hearing for the next few months. I can see that MSNBC and NBC is trying to pivot back to the middle. likely to increase viewership, but they’re making total asses of themselves in the process. Between Dancing Disco Dave on NBC/MTP and upChuck Todd @ MSNBC, there’s no limit to their ability to be disingenious.

    • Fannie says:

      If they are gonna cut, why not the F22 fighter, which the Air Force doesn’t even want, that is a savings of $80 billion dollars………… know how far that would go for salaries/jobs?

      • dakinikat says:

        The amount of money we spent on the military and stuff like that is immoral and unnecessary. It should be the first place we cut.

      • ANonOMouse says:

        Totally agree Dak. We have more than 1000 military bases worldwide. WHY????? Can’t the U.S. Armed Forces become lean & mean without the need to project the physical signs of our military power around the globe? The truth is the U.S. Military is a global business venture and many countries rely on U.S. taxpayer dollars via the U.S. Military presence. How many weapons does it take to defend this countries borders? We can strike every country on the globe with nuclear missles launched from the U.S. or from long range bombers or from nuclear submarines, why do we need bases in Germany, Italy, Japan, Bulgaria, Australia, Cuba, Brazil, Portugal,Guam, Israel, UAE, Spain, Kuwait, Greenland, Saudi Arabia, Oman, Turkey, Qatar, Singapore, Kyrgyzstan, The Netherlands, the UK? And that’s not even counting the bases in Afghanistan. We need to bring that money home, now!!!

    • dakinikat says:

      There is just this huge fundamental misunderstanding of simple math in this country and of just basic economics. You don’t read this on any economist’s blog or in any of the research and journals. These people have no idea what they’re talking about and yet they’re paid millions of dollars to yap on about stuff … I’m beginning to think it’s just the role of the corporate news these days to spout propaganda instead of get to the bottom of things.

      • Delphyne says:

        I agree with the spouting propaganda, Kat – after Watergate, the news folks started shutting down real reporting and investigation.

      • RalphB says:

        Pete Peterson and his cronies have either captured or bought all of them. Millions of diollars spent over 20 years has the news media at his disposal, like all the other VSP.

      • bostonboomer says:


        Be sure to have a bucket on hand, but Samuelson has another screed in the WaPo.

    • NW Luna says:

      I have to change stations or turn it off when the news goes on about how the US needs to get “entitlements” under control or to reduce the deficit. “Economists say,” yet they never have a single economist to quote by name.

      Oh yeah, tons to bail out Wall Street but we have to turn elders, disabled, and the non-rich out on ice floes.

      In just about one short year (March 2008 – March 2009), the bailouts managed to spend far in excess of nearly every major one time expenditure of the USA, including WW1&2 (omitted from graphic), the moon shot, the New Deal, total NASA budgets (omitted from graphic), Iraq, Viet Nam and Korean wars — COMBINED.

      (h/t to Corrente’s “The only chart you need on the bailouts.”)

    • Beata says:

      I made the mistake of watching Morning Joe today. Hint: Never do that when you are feverish. It becomes surreal. Like a Philip K. Dick story but without any redeeming qualities.

  3. bostonboomer says:

    The latest “inside” report from Politico is hilarious!

    House Speaker John Boehner couldn’t hold back when he spotted Senate Majority Leader Harry Reid in the White House lobby last Friday.

    It was only a few days before the nation would go over the fiscal cliff, no bipartisan agreement was in sight, and Reid had just publicly accused Boehner of running a “dictatorship” in the House and caring more about holding onto his gavel than striking a deal.

    “Go f— yourself,” Boehner sniped as he pointed his finger at Reid, according to multiple sources present.
    Reid, a bit startled, replied: “What are you talking about?”
    Boehner repeated: “Go f— yourself.”

    The harsh exchange just a few steps from the Oval Office — which Boehner later bragged about to fellow Republicans — was only one episode in nearly two months of high-stakes negotiations laced with distrust, miscommunication, false starts and yelling matches as Washington struggled to ward off $500 billion in tax hikes and spending cuts.


    • bostonboomer says:

      OMG, this is even funnier:

      By early December, with talks barely moving, Obama was using his bully pulpit to win the public opinion fight, holding campaign-style events in key states and aggravating Republicans. Privately, he began calling moderate Republican senators he kept on a list in an effort aimed at raising pressure on their leaders.

      Republicans began to fret about losing the PR fight. In a closed-door meeting, some GOP House lawmakers suggested that each member kick in $5,000 to hire a big Madison Avenue advertising firm to craft a communications strategy for them. But Boehner and other party leaders quickly shot down the idea.

      • dakinikat says:

        Why is it always about the way they communicate and not their actual message? They’re beginning to learn they can’t fool all of the people all of the time and are getting less effective at fooling most of the people.

  4. Pat Johnson says:

    Though they say it won’t happen, I am hoping that Boehner gets voted out of the Speakership since this is his primary focus.

    Not the common good, not the need to solve issues, not the idea that this nation requires leadership, but that his lofty position as Speaker remains firmly in his name.

    In a legislative body replete with “weasels” of every stripe, he “leads” in that category hands down.

    He is the one who creates the calender for when they convene and when you factor in that this year they are scheduled to meet and deliberate for a grand total of 126 days so that his free days can be spent golfing, this guy needs to be sent packing.

    I hate these people.

    • Fannie says:

      Alot of people in the Northeast is hating too, since they refused to vote on Sandy Relief…………..and some people are chaning their political status, am told.

  5. dakinikat says:

    Melissa McEwan ‏@Shakestweetz

    Number of the Day: 43. The # of reproductive provisions enacted in the US in 2012 seeking to restrict abortion access.

  6. dakinikat says:

    Is the US the only country where more men are raped than women?

    The figures on rape may be uncertain, but we could lower the sexual assault rate in American jails – if we had the political will

  7. dakinikat says:

    The Fix ‏@TheFix

    What the fiscal cliff taught me — including that Marco Rubio is DEFINITELY running for president.

  8. dakinikat says:

    Wall Street Economists React: Full Fiscal Cliff Not Avoided

    –The full “fiscal cliff” has not been avoided. The deal just enacted implies a significant tightening of fiscal policy this year. Payroll taxes are going up and federal spending is being cut by the amount anticipated in the BCA. These measures will be a drag on growth, starting in the current quarter. Taken at face value, the deal appears to entail somewhat more fiscal drag for 2013 than we had assumed in our forecast. Second, we now face a difficult debate over raising the debt limit. An increase in the debt ceiling will have to be done by around the end of February (at this point, Treasury has not given a specific date; this may come within the next few weeks, but it has been indicated that there is about two months of headroom). The upcoming negotiations are likely to be even more difficult and contentious than the ones just completed. –Lewis Alexander, Nomura Global Economics

    • bostonboomer says:

      Maybe they should tell that to their Republican servants.

    • RalphB says:

      Your summation is about what should have been expected from Wall St. Only the media would think this deal and the upcoming messes would be a big positive for investors.

  9. dakinikat says:

    This should be an interesting experience … Andrew Sullivan is going independent and on a subscription basis …

  10. ANonOMouse says:

    Here’s some good news: Hannity loses half of his audience post election. O’Reilly loses one-third of his. May they rest in pieces.

  11. RalphB says:

    Matt Yglesias has a nice chart. To me it shows Congress largely protected themselves from the tax increases, considering the average income of a legislator with a lobbyist spouse.

    Slate: The Impact of the Deal

    Here’s Credit Suisse chart of how much everyone’s after tax income will be reduced in 2013 relative to 2012. You can see that almost everyone is worse off this year thanks to the expiration of the payroll tax holiday. Very rich households, however, will see a much bigger tax hike than the rest of us. That’s what Obama achieved in the deal.

    Conversely, there’s that weird bracket of people $200,000-$500,000 families who are actually seeing a smaller tax increase than lower-income households. That’s because these are families that had a lot of income that isn’t subject to the payroll tax and who don’t make enough to be seriously impacted by the higher marginal rates or the PEP and Pease provisions. Saving these folks’ bacon was Mitch McConnell’s big win.