What Obama Can Do About The Bush Tax Cuts

This DKos diary, a classic in the "Leave Obama Alone" genre, does raise the question of what precisely can President Obama do regarding the Bush tax cuts.

First, it is true that the President himself can not enact legislation - he either signs or vetoes whatever the Congress passes. But therein lies the point - the Congress cannot enact legislation without the approval of the President (excepting of course the extremely unlikely possibility that legislation would pass with veto-proof majorities.) Second, if no legislation is passed, the Bush tax cuts simply expire. To wit, the President CAN end the Bush tax cuts by refusing to sign legislation extending the Bush tax cuts. Third, the President and most Democrats in Congress want to enact new middle class tax cuts (in essence the middle class tax cuts portion of the Bush tax cuts.) The GOP and Evan Bayh Democrats are adamant that they will hold the middle class tax cuts hostage to tax cuts for the rich.

So what's the President to do? He clearly has two choices here - (1) hold his ground and veto any legislation that cuts taxes for the rich or (2) capitulate and embrace the Bush tax cuts. There is a possibility in theory of a "decoupling" compromise, where middle class tax cuts are made permanent and the tax cuts for the wealthy are made "temporary." In my view, the GOP will not bite. They will not permit decoupling. So the reality is the President has to decide if this is worth fighting for. My view is, if not this, then what? Contrary to the view expressed in the "Leave Obama Alone" diary, this issue really is about Obama and what he is going to do. For better or worse.

Speaking for me only

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    There is (5.00 / 2) (#3)
    by lentinel on Fri Nov 12, 2010 at 08:42:24 AM EST
    no reason not to believe that Obama is about to use your option #2:
    "capitulate and embrace the Bush tax cuts".

    In fact, there has never any reason to believe otherwise -
    his pre-election rhetoric to the contrary.

    I don't see him or the democrats having the will or even the desire to let the Bush cuts expire, and then mount a serious effort to enact tax cuts for the middle class.

    Frankly, I don't think they are any more interested in the welfare of the middle class (forget the working poor - they're not even in this scenario) than the Republicans.

    Someday we will have to acknowledge what has happened to our political system and how the electorate has been effectively disenfranchised.

    Not sure what benefit there is in (none / 0) (#7)
    by MO Blue on Fri Nov 12, 2010 at 09:00:29 AM EST
    postponing the acknowledgment.

    Someday we will have to acknowledge what has happened to our political system and how the electorate has been effectively disenfranchised.

    Either we figure out a way to get around the money that goes into buying the policy outcomes for the rich and corporate interests or the it will only get worse. There has to be a way.


    Don't Count On Obama (none / 0) (#52)
    by norris morris on Fri Nov 12, 2010 at 11:51:32 PM EST
    He's definitely not a fighter. Our political system is on life support and Obama is a hapless and weak president who will compromise first.

    American Idol doesn't like confrontation and action politics. He leaves this to the GOP who have been taking him down and will continue doing so because they know they can.


    It's official, (5.00 / 2) (#6)
    by NYShooter on Fri Nov 12, 2010 at 08:48:01 AM EST
    Washington Dems are certifiable:

    Do they even read what they write?

    "And even on one of the left's pet issues which Mr. Obama aggressively and successfully pursued - health care - people in the the left wing of his party remain disappointed that he did not push harder for a public option.
    Moderate Democrats, who were also a key part of the coalition that helped sweep Mr. Obama into office, are openly worried that the liberal carping might have an effect on the president and the administration.
    In a memo released before the election, Third Way, a middle-of-the-road think tank with ties to the White House, predicted that liberals would try to pull Mr. Obama in their direction after the election. But they warned that doubling down on liberal policies would have dire consequences for the Democratic party." [emphasis mine]

    I guess we can kiss victories like we just had bye-bye.

    Victories You Say? (none / 0) (#53)
    by norris morris on Sat Nov 13, 2010 at 12:12:21 AM EST
    What victories has Obama wrought? If there are any his messaging team is out to lunch. The memes belong to the GOP who are agressive at controlling the message and do it well.

    President Obama hasn't let us know about his "transformational" administration, nor does the rest of the country know what is in  HCR other than the messaging from the GOP.

    Obama the Orator is a wan and reticent president  who can't tell it straight nor in a timely manner.  He compromises first and takes the easy way out and appears too indifferent to fight hard for his policies.   He should let us know what his policies and agenda are about. We're still waiting.

    I listen to left liberals who either praise HCR or decry it- as it lacks among many things the public option, and obliges millions to buy private insurance, etc.

    Obama's latest trip to all those Call Centers in India that have taken thousands of American jobs
    wasn't too cheering as this was P.R. for his ".jobs trip".

      As for his failure to achieve a trade agreement with Seoul- or for that matter with any of the other countries in the European Union doesn't say much about his ability to close the deal. His poor preparation and naivete in presenting losing ideas to the table accounted for his total rejection by all of the Summit -Europe,China,S. Korea, et al.

    This was a trip on training wheels.


    "victories?" (none / 0) (#59)
    by NYShooter on Sat Nov 13, 2010 at 04:02:05 PM EST
    please check Google under S-N-A-R-K

    The Dkos Diarist is an Obama appologist (5.00 / 2) (#15)
    by cpa1 on Fri Nov 12, 2010 at 09:30:27 AM EST
    and has been for many years.  She does many great things but understanding economics and Obama are not two of them.

    What she doesn't understand is if the federal government doesn't start stimulating we will erode until there is nothing left.  Therefore, those people who have the middle-class tax cut now will really be up sh_t's creek.  

    I don't want to see those middle class tax cuts go either BUT given the choice of keeping the $3 trillion plus of Bush tax cuts including the zero Estate Tax to keep the middle class tax cuts, I say let it go and use the money to create jobs so we can get rid of most of the Earned Income Credit, as people will be working full time and making better salaries.  We need the feds now more than ever.

    Remember how the Republicans whined about our high corporate tax and waxed poetic about how we should have a tax structure like Ireland has, well look below where it got that country.


    Not to adopt the diarist meme that (none / 0) (#42)
    by MO Blue on Fri Nov 12, 2010 at 10:59:53 AM EST
    Obama does not have any options, she is correct that the Dem politicians who have come out in favor of extending tax cuts to the rich should he hearing from their constituents loud and clear that they do not want the tax cuts for the rich extended. Also those remaining in the Senate need to share the blamed when they are extended.

    Thanks (none / 0) (#54)
    by norris morris on Sat Nov 13, 2010 at 12:17:44 AM EST
    for your post on the Kos diarist.

    I have actually refrained from Kos for quite a while as it is simply a transparent and immature apology regarding Obama's abysmal performance. Or lack of performance.

    Kos holds Obama to be above criticism and as we know this is dangerous,predictable, and most of all one big boring whine.


    It would be an interesting exercise to (5.00 / 3) (#30)
    by Anne on Fri Nov 12, 2010 at 10:07:08 AM EST
    go back and see how many "What Obama Can Do" posts have been written on the issues of the last two years, and on how many of those issues he did what we should have expected a Democratic president to do; my guess is that there are more than a few advisory posts, and in most instances he failed to take what was seen as the best course.

    Where I come from, they call that a pattern, and we can either learn from it, or persist in the belief that someday maybe he'll actually act the part of a Democratic president that, up until January, had a majority in both Houses of Congress.

    He's out of excuses, as far as I'm concerned, and it pains me that now that there will be a GOP House, we can expect two years of hearing, "we didn't have any choice - we had to work with them if we wanted to..." as the reason why we'll be taking a hard right turn.


    Argh Again (none / 0) (#55)
    by norris morris on Sat Nov 13, 2010 at 12:25:32 AM EST
    Obama has handed the White House and the next two years to the GOP. His lack of political savvy and difficulty with confrontation render him an ineffective politician in training. He is surrounded in a bubble replete with advisors who range from timid and unsure to just plain hacks who take the least resistant positions.



    Hmm... (none / 0) (#1)
    by masslib on Fri Nov 12, 2010 at 08:38:26 AM EST
    There was a time not so long ago that even those on the Left acknowledged that eventually all of those tax cuts would need to sunset, and that we might even need to raise taxes.  I think this just shows the goalposts have changed.  There is no chance that a Dem President and a Dem Congress is going to do what a Republican President and a Republican Congress did not do, which is to make tax cuts for the wealthy permanent.

    veto (none / 0) (#2)
    by Capt Howdy on Fri Nov 12, 2010 at 08:40:50 AM EST
    and take to the pulpit with a message that he is doing it to stop blowing a hole in the deficit that the republicans are requiring for middle class tax cuts and that middle class tax cuts will be the next piece of business taken up.

    let the republicans try and stop it.

    this stuff is not really rocket science.

    sounds (5.00 / 1) (#4)
    by lentinel on Fri Nov 12, 2010 at 08:43:13 AM EST
    good, Capt'n - but not bloody likely imo.

    But nobody really cares about the deficit. They (none / 0) (#8)
    by steviez314 on Fri Nov 12, 2010 at 09:11:59 AM EST
    just want THEIR tax cuts.  So when Fox goes 24/7 with "Obama raised your taxes", who's going to defend him?

    People here will already be on to their next "Obama is a Sam Nunn democrat" or whatever crusade.

    See, the Republicans are nihilists.  They DON'T CARE if things get blown up, if the middle class doesn't get their tax cut, if the economy tanks again.  Hell, they get rewarded for that behavior at the polls anyway.

    One side wants government to work, wants the economy to recover; the other side just wants power.  It's asymmetrical warfare.


    if Obama and the democrats (5.00 / 2) (#9)
    by Capt Howdy on Fri Nov 12, 2010 at 09:18:03 AM EST
    in congress cant make this case they should find other work

    You can't make a case to potted plants. (none / 0) (#10)
    by steviez314 on Fri Nov 12, 2010 at 09:24:01 AM EST
    Bloomberg News just did a poll--65% of investors think Republicans are better for business.

    That's despite a market that's gone straight up since March 2009, all-time highs in corporate profits, and actual history (Clinton years vs. Bush years).

    I have never held voters in more contempt than I do now.  They have checked their brains at the door.

    Besides, every time Obama tries to make his case, he's accused of being "professorial" or "elitist".  We have become a very stupid country this decade, and I am very pessimistic about turning that around.


    perhaps the only cases he has made so far (5.00 / 2) (#13)
    by Capt Howdy on Fri Nov 12, 2010 at 09:28:48 AM EST
    are "professorial" or "elitist".  has he ever attempted to make a case for the middle class?

    again.  if a democratic president cant make the case for Middle Class Tax Cuts and hammer the republicans if they try to block it a damn sorry state of affairs exists that has to be changed.


    Blaming the voters is always (none / 0) (#11)
    by masslib on Fri Nov 12, 2010 at 09:26:19 AM EST
    a winning strategy.  Um, by the way, I don't think voters give a crap if corporate profits are through the roof.

    I'm not blaming the voters as a strategy. (none / 0) (#12)
    by steviez314 on Fri Nov 12, 2010 at 09:28:35 AM EST
    I'm saying the voters are morons, and we haven't yet developed a strategy to appeal to morons.

    there are ways to appeal to (5.00 / 1) (#14)
    by Capt Howdy on Fri Nov 12, 2010 at 09:29:40 AM EST
    and if necessary manipulate morons.  republicans do it every single day.

    Voters are morons... (none / 0) (#18)
    by masslib on Fri Nov 12, 2010 at 09:33:55 AM EST
    how do we appeal to these morons?  LOL.

    So (none / 0) (#36)
    by jbindc on Fri Nov 12, 2010 at 10:17:22 AM EST
    Were all 82 million people who voted on November 2 "morons"?  How about the 130 million who voted in 2008?

    That's a huge net you're casting there.....


    Ah yes (none / 0) (#31)
    by jimakaPPJ on Fri Nov 12, 2010 at 10:07:18 AM EST
    Those stupid voters ignored the highly intelligent Left and threw out those brilliant Democrats who passed a health care bill that 70% plus of the country opposed.

    I mean, really.

    Buy a mirror. Look into it to see the problem.


    Wow...the Health Care Bill...yes 55% of the (none / 0) (#37)
    by steviez314 on Fri Nov 12, 2010 at 10:34:35 AM EST
    country hates it.  Yet 55%+ of the country likes the provisions in it.

    Kind of proves my point.


    I enjoy meat and potatoes (none / 0) (#46)
    by jimakaPPJ on Fri Nov 12, 2010 at 01:06:17 PM EST
    but hate carrots.

    Kinda proves my point.

    The Demos stuffed it full of something for their pet
    groups and jammed it through.

    It should be called The Health Insurance Industry Protection Plan.

    Now they have paid the price.

    BTW - My personal preference is a single payer plan modeled on Medicare paid for by a Federal Sales Tax.


    The voters are misinformed? (none / 0) (#35)
    by lilburro on Fri Nov 12, 2010 at 10:14:52 AM EST
    They're stupid?  Maybe someone cough cough should make the case.  The WH after putting on an exceptional political show in 07 and 08 has given up playing politics.  That's stupid.  Or perhaps we should all be religiously watching those ridiculous Youtube videos?

    It was the straight down (none / 0) (#48)
    by jimakaPPJ on Fri Nov 12, 2010 at 01:37:57 PM EST
    to a low near 6000 and 9.6% unemployment, around 17% functional, that people know about.

    Obama (none / 0) (#50)
    by Ga6thDem on Fri Nov 12, 2010 at 02:18:00 PM EST
    does do a very poor job of making the case for any policy either because he doesn't believe in it or he can't get out of classroom mode. In town halls he talks to people with real problems like they are just another student in a college class.

    Look, someone worked with Howard Dean to make him do better on TV i'm sure because he has come a long way. Why not get someone to work with Obama on public speaking? Of course, you can't get someone who doesn't have any core values to get them but maybe at least he would be able to sell some ideas.


    It doesn't matter anymore (none / 0) (#56)
    by norris morris on Sat Nov 13, 2010 at 12:35:05 AM EST
    The tone set by obama and his advisors has failed to convince.

    Unless... he has the guts and talent to make a huge change....

    I'm sorry to say that I don't believe he has the temperament, the guts, the knowledge, political skill,or messaging skills that come from a clear and consise position to be an effective leader.

    If he has done anything of importance he has failed miserably to let us know it in a timely manner.  He isn't able to boldly seize the day he told us we were waiting for. And his coolness is not impressive. It appears a cover for a man clearly over his head and out of the moment.



    It's so effing obvious (none / 0) (#5)
    by andgarden on Fri Nov 12, 2010 at 08:44:52 AM EST

    I asked this in another thread (none / 0) (#19)
    by MO Blue on Fri Nov 12, 2010 at 09:35:18 AM EST
    but maybe you can answer me. The original Bush tax cuts were passed using reconciliation. Did the Dems somehow eliminate their ability to use reconciliation during the lame duck session? If not, why can't the Dems use reconciliation to pass only the middle class tax cuts and just let the  cuts for the wealthy expire?

    They supposedly did, yes. (none / 0) (#23)
    by masslib on Fri Nov 12, 2010 at 09:39:42 AM EST
    But there are always ways around the rulz if Harry Reid had courage.  

    I think it is because there was no budget passed (none / 0) (#27)
    by ruffian on Fri Nov 12, 2010 at 10:00:45 AM EST
    so there is nothing to 'reconcile'. I could be wrong however.

    They used a deeming resolution (none / 0) (#44)
    by Joan in VA on Fri Nov 12, 2010 at 11:18:45 AM EST
    for the budget with no reconciliation instructions for 2011. They could now pass a budget during the lame duck including reconciliation instructions and then proceed to pass legislation through reconciliation. It would be unusual but it is possible, though it would open the deficit can of worms they sought to avoid by deeming rather than passing a budget.

    Intelligent Question (none / 0) (#57)
    by norris morris on Sat Nov 13, 2010 at 12:39:56 AM EST
    Reconcilliation takes skill, and mostly a position..a point of veiw to be executed with massive political savvy and energy.

    The wan rumblings and compromised bungling the Democrats have exercised is so lacking in credibility that the parlimentary tools necessary to effect change in Congress never saw the light of day. Because? No fight, no fire, no conviction and therefore no respect and no action.


    & if he capitulates again, as is likely (none / 0) (#16)
    by BobTinKY on Fri Nov 12, 2010 at 09:30:37 AM EST
    a primary challenger?  

    No. (5.00 / 2) (#40)
    by oldpro on Fri Nov 12, 2010 at 10:52:43 AM EST
    We are not only not 'post-partisan,' we are not post-racial.

    The Democratic Party cannot afford to further alienate African American voters.  They are stuck with Obama 'til he decides to retire.


    DailyKos is very excited about the decoupling (none / 0) (#17)
    by masslib on Fri Nov 12, 2010 at 09:33:08 AM EST
    strategy.  Apparently, what liberals always wanted was to make permanent Bush's tax cuts for the middle class, despite the deficit, and were willing to extend the Bush tax cuts for the wealthy to get the job done.  Who knew?

    But, but the Dems have been (none / 0) (#20)
    by MO Blue on Fri Nov 12, 2010 at 09:37:22 AM EST
    running on rolling back the Bush tax cuts for the wealthy since Kerry's run for the president. Does that mean that the Dems have lied to us? :-)

    Oh, no, no... (none / 0) (#24)
    by masslib on Fri Nov 12, 2010 at 09:43:07 AM EST
    you must be mistaken.  You're misremembering ;-).  According to Jed Lewison this was always the plan.  I'm actually starting to wonder(ok not starting and not wondering)if the Obama blogger loyalists get their orders via email or something from the WH everyday.  You know, today's order would be make Obama look good for proposing a "decoupling" strategy, and act like that was always the goal.

    Yes. Either they misspoke, were misquoted or (5.00 / 1) (#26)
    by MO Blue on Fri Nov 12, 2010 at 09:54:42 AM EST
    I am misremembering. Don't you just love all those "mis" words.

    It seems necessary to twist ourselves into pretzels or create words or sayings (Pols will be pols.) to replace saying that politicians of both parties flat out lie.  


    Exactly, but Obama is such a lucky pol. (none / 0) (#33)
    by masslib on Fri Nov 12, 2010 at 10:10:06 AM EST
    He's got liberal bloggers to cover his track, which is pretty remarkable.

    Two Comments (none / 0) (#21)
    by ScottW714 on Fri Nov 12, 2010 at 09:38:15 AM EST
    1.  No one seems to mention the obvious elephant/donkey in the room.  Nearly all of Congress and the Prez fall into the 'increase taxes' bracket.  Why don't they change the cut off from 250k to a million, then most of them won't be affected in any meaningful way, and selling tax increases on millionaires is a no-brainier.

    2.  If Obama caves, and I believe he will, he is pretty much guaranteed a loss in 2012.  No one will care about who did what and how in 2012, all they will see is at least another couple trillion added to the national debt under his watch.  The republicans will package and brand it as Obama's albatross.

    A million dollars is a mere pittance to (none / 0) (#25)
    by MO Blue on Fri Nov 12, 2010 at 09:47:40 AM EST
    many of Congresscritters.

    The wealthiest members of Congress grew richer in 2009 even as the economy struggled to recover from a deep recession.

    The 50 wealthiest lawmakers were worth almost $1.4 billion in 2009, about $85.1 million more than 12 months earlier, according to The Hill's annual review of lawmakers' financial disclosure forms.
    Twenty-seven Democrats along with 23 Republicans make up the 50 richest in Congress; 30 House members and 20 senators are on the list.

    Granted (none / 0) (#28)
    by ScottW714 on Fri Nov 12, 2010 at 10:02:56 AM EST
    But you are comparing wealth to income.

    How many make over a million of the roughly 500 members of Congress ?  This would be taxable income, which I believe would put many under the million dollar threshold.

    The quote seems to be missing some key info (besides the source), like are the 50 billionaire lawmakers the same 50 Congressmen/women they refer to as the richest ?  Or are they including governors, state legislators, and other makers in that billionaire club ?

    Not that it isn't true, but I have a hard time believing one in ten members of Congress is worth over a billion dollars.


    Please read the quoted material again (none / 0) (#34)
    by MO Blue on Fri Nov 12, 2010 at 10:11:06 AM EST
    The last sentence in my comment clearly states that the 50 are made up of U.S. congress members.

    OK (none / 0) (#43)
    by ScottW714 on Fri Nov 12, 2010 at 11:00:09 AM EST
    I read that part correctly, but the part I misread and is a little misleading is "The 50 wealthiest lawmakers were worth almost $1.4 billion in 2009".

    It's total wealth of all 50 which is ~$28M each.

    Break it down just to show my point.  If they all had wealth increases of $1M/yr for 28 years, it certainly means their annual taxable income would be far less.   Because wealth can vary greatly depending on what the assets are.  One might increase their wealth by millions without it being taxable because it's considered long-term investments, which aren't taxable until the asset(s) are sold.  

    What I would like to know is how many make a taxable income over $ 1M/yr ?


    Are you saying that if he caves and (none / 0) (#29)
    by ruffian on Fri Nov 12, 2010 at 10:06:32 AM EST
    allows all of the tax rates to stay where they are now, which is what the Republicans want, it will hurt his re-election chances? I think the opposite.

    No one really cares about the deficit. They are just using it as a bludgeon when convenient. Everyone wants to keep their tax cuts.

    The courageous thing, and what would surely hurt him, would be to let all the tax cuts expire and take a realistic look at the tax structure in the next couple of years.


    Do Nothing (5.00 / 2) (#41)
    by CoralGables on Fri Nov 12, 2010 at 10:56:29 AM EST
    "The courageous thing, and what would surely hurt him, would be to let all the tax cuts expire"

    And that's what I would hope for. Let the Congress do nothing so they expire and actually start fixing the problem instead of kicking the can.


    Agreed 100% about Expiring all Tax Cuts (none / 0) (#38)
    by ScottW714 on Fri Nov 12, 2010 at 10:47:52 AM EST
    But that is as likely to pass as major cuts for DoD, just not going to happen.

    What I was saying is if the deficit increases, he will be the one blamed.


    Nothing has to pass. I think nothing passing is a (none / 0) (#45)
    by ruffian on Fri Nov 12, 2010 at 12:04:55 PM EST
    real possibility this year.  

    Yes, any increase to the deficit on his watch will be blamed on him. Because Dems are the opposite of Teflon when it comes to that. Clinton got no credit for eliminating the deficit, and Bush got no blame for running it up. But I digress....

    I just want an honest look at tax structure without all the brinksmanship politics, but I guess that will never happen. I give the cat food commission credit for trying.


    Obama has already caved (none / 0) (#58)
    by norris morris on Sat Nov 13, 2010 at 12:47:34 AM EST
    On just about everything.

    Another pol on training wheels who does what he's told.


    Gramdpa Fred Thompson (none / 0) (#22)
    by Capt Howdy on Fri Nov 12, 2010 at 09:39:30 AM EST
    The Deficit Commission chairmen's proposal is "breathtaking"

    finally Fred and I agree on something

    And Grandpa Fred's breaths are numbered (none / 0) (#32)
    by ruffian on Fri Nov 12, 2010 at 10:08:43 AM EST
    I imagine his is taking things especially easy this week to compensate.

    Lots of 'what to do' (none / 0) (#39)
    by waldenpond on Fri Nov 12, 2010 at 10:48:30 AM EST
    Do you think Obama will sign the MERS cover-up bill that's currently being written?

    Let the oligarchy continue!

    Thank you. (none / 0) (#47)
    by hairspray on Fri Nov 12, 2010 at 01:17:48 PM EST
    I have believed all along that Obama needs to call their bluff.  And this tax thing is where he should finally find his spine and veto any bill that comes to him with the rich getting their 700 billion.  How hard can that be?  He might win some of his base back.

    Pres. Obama re Axelrod. (none / 0) (#49)
    by oculus on Fri Nov 12, 2010 at 01:54:50 PM EST

    Seoul, South Korea (CNN) -- President Barack Obama declared Friday that his "number one priority" is preserving tax cuts for the middle class, and sharply denied that comments by his senior adviser David Axelrod suggest that his administration is about to cave in to Republicans who also want to extend the Bush tax cuts for the wealthy.

    "That is the wrong interpretation because I haven't had a conversation with Democratic and Republican leaders," Obama said of a Huffington Post article suggesting that in advance of negotiations with lawmakers next week, the White House has calculated that giving in on tax cuts for the rich is the only way to get the middle class cuts extended too.

    "Here's the right interpretation -- I want to make sure that taxes don't go up for middle class families starting on January 1st," Obama said at a news conference at the conclusion of the G-20 Summit here. "That is my number one priority for those families and for our economy. I also believe that it would be fiscally irresponsible for us to permanently extend the high income tax cuts. I think that would be a mistake, particularly when we've got our Republican friends saying that their number 1 priority is making sure that we are dealing with our debt and our deficit."

    Obama would not tip his hand on the discussions coming when Congress returns to work for a lame-duck session next week.

    "I'm not going to negotiate here in Seoul, my job is to negotiate back in Washington with Democratic and Republican leaders," he said.

    Key word in bold (none / 0) (#51)
    by MO Blue on Fri Nov 12, 2010 at 03:50:27 PM EST
    I also believe that it would be fiscally irresponsible for us to permanently extend the high income tax cuts.

    He is definitely leaving a whole lot of room to "temporarily" extend the high income tax cuts for several years. The deficit is no big deal when the funds are used to for the benefit of the rich (corporate or individual).