Late last night word that a Fiscal Cliff Compromise was passed in the House of Representatives earned sighs of relief from much of the mainstream media I flipped through. I’m no financial expert by any stretch of the imagination but while it seems that there definitely some good things, like keeping unemployment insurance for another year and preventing milk prices from doubling, there is still a lot that troubles me.
There are huge corporate subsidies that pretty much ensure that many corporations benefit and don’t have the tighten their belts the way most people in the U.S. have had to do. What really bothers me though is the fact that immediately the checks that workers, including myself, bring home, will be written out for less because of the end of a payroll tax holiday. That is something that people who are already living paycheck to paycheck will feel. Just because NCLR says the deal is good for Latin@s, who have been disproportionately hurt by the poor economic situation, doesn’t mean that it is. Latinos inside Congress from both sides of the aisle, voted against the deal, for very different reasons.
Are you comforted by last night’s vote?