Paul Ryan says that this really is the best deal we could get on the tax rates. If we waited until after January 1st, he argues, we may very well be stuck with a tax increase on all Americans and a really high estate tax, especially considering they don’t have the Senate or Executive. Napolitano then made Jim DeMint’s argument that centers around increasing the debt to pay for the unemployment insurance, and Ryan just said he agreed with Jim on that point. But that’s it. Nothing more. I was hoping he would say that we can pay for it with stimulus funds or something, but he just moved off that point quickly.
Apparently Ryan feels so much so that they won’t be able to make a deal next year, that it’s worth running up the debt to pay for UI.