In his first column for the New York Times, former White House OMB Director Peter Orszag recommends extending the Bush tax cuts for at least two years, even if it means extending those cuts for top-rate payers as well as the middle class:
In the face of the dueling deficits, the best approach is a compromise: extend the tax cuts for two years and then end them altogether. Ideally only the middle-class tax cuts would be continued for now. Getting a deal in Congress, though, may require keeping the high-income tax cuts, too. And that would still be worth it.