While President Obama has not yet declared a national state of emergency following news of the lockout, the prospects for an agreement being reached are not good, as frustration and exasperation have started to cloud the process. The players rejected a last-minute deal put forth by the NFL.
The start-up phase is over, a strong foundation is now in place, and now we must go about the difficult work of building the best Catholic liberal arts university in America," Towey said in a statement.
Further, Obama replaces the progressive Making Work Pay tax credit from the 2009 Recovery Act with a regressive reduction in Social Security payroll tax. The Making Work Pay tax credit benefited households earning up to $75,000 and was highly stimulative. But the payroll tax holiday now proposed is skewed toward the wealthy and is far less stimulative.
