Labor calls tax deal an 'unconscionable' giveaway to wealthy

The AFL-CIO's president condemned President Obama's deal on tax cuts as an "unconscionable" giveaway to wealthy interests.

AFL-CIO President Richard Trumka slammed the tax deal and joined the ranks of liberals who have expressed disenchantment with the president for having agreed to the two-year extension of all expiring tax cuts.

"Two years ago, working Americans had high hopes that we would ultimately emerge from the deep, punishing financial debacle with a sharp focus on a fundamentally stronger, fairer and more balanced economy," the labor leader said. "Today, that vision has dimmed."

Labor groups have continually sought to pressure the administration to stick to its guns on issues over the last two years, especially when it's come to issues like stimulus spending, healthcare reform and Wall Street reform.

"It is unconscionable that the price of support for struggling middle-class families and workers who have been unable to find jobs for months and months and months is yet more giveaways for our country’s wealthiest families," Trumka said. "Millions of jobless workers have lived in fear for months while Senate Republicans had the gall to use their hardships as political leverage for the benefit of the rich."