A Step in the Right Direction?

Congress Ryan, one of the deal’s loudest critics (courtesy of Bloomberg News).

Congressional negotiators have reached a deal to extend the payroll tax holiday, unemployment benefits, and Medicare payment rates for doctors. It also includes $50 billion in cuts to go toward a reduced deficit. Senior aides in both parties have praised the deal, stating that it is a step in the right direction that will prevent doctors from seeing a drop in rates paid by Medicare.

However, not all GOP members are happy about the compromise. Representative Paul Ryan of Wisconsin has been ripping the deal apart, arguing that the budget “not only doesn’t fix our debt situation, it makes it worse. It is a net-spending increasing budget when spending is the biggest problem.” He has gone as far as to compare the nation’s current financial situation to that of Greece, using the hashtag, #AskTheGreeks on Twitter.

Lawmakers are optimistic that a broad deal will be announced Wednesday and approved by Friday. “It is a compromise. We knew we were going to have to compromise,” said Representative Renee Elmers (R- NC). 

–George Mendoza