The GOP ought to be able to get a two-year or three-year extension of all the tax cuts through the new Congress. (If Pelosi had allowed a vote, such a bill would have had a majority in the current House; some Democratic senators have also defected.) Let the president veto it if he dares. I doubt he would.
A great policy point to make, Ramesh. In all the talk about "expectations," it's policy changes that really matter.
Obama, I'd think, would be willing to kick this down the road -- and the MSM would (rightly) portray it as a genuine concession to the new Congressional order. It's a no-lose move for Obama, if he has the stomach to make it. That's still an open question.
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