BUSH ERA TAX CUTS OBAMA - GOP COMPROMISE EXTENSION BILL PASSES THE SENATE AND HOUSE..........

On Wednsday and Thursday, after more than a year of wrangling and a political compromise between the Obama White and Senate Republicans, the contentious and controversial votes on extending the Bush era Tax Cuts to all, no matter theirv income levels, were passed by the U.S. Senate, 81-19; and the House of Representatives, 277-148;.  So for another two years the middle class, millionaires, and billionaires, will all continue to benefit for the nearly decade old tax cuts, in the hope that it will help spur the American economy on to greater growth.  But the total Tax Cut extension Compromise totals $858 billion which the United States does not have, thus will have to borrow from China.  Thus we are now indebted to the Chinese about nearly another trillion dollars, which not only makes us more beholden to them econonically, and deepens the deficit we have to arrest in order to balance our Budget.  Will the 112th Congress, act responsibily in funding our national initiatives within our means, or will we continue to borrow on our future generations and leave an even more serious monetary time bomb ticking ?..........Fr.  Troy