The "tax compromise" reached by President Obama and Congressional Republicans has left liberal Democrats feeling gypped. But it could end up being a stealth consolation prize for the Democrats after the drubbing they took in the 2010 midterms—and might even pave the way for Obama's reelection in 2012.
Many Democrats are outraged that Obama agreed to an extension of the Bush-era tax cuts for America's wealthiest earners, which is a top Republican priority. And opposition to the top-tier tax cut could still scuttle the deal in Congress, where lawmakers have to turn the broad framework into a set of laws able to get enough votes to pass the House and Senate. But by blinking on the tax cut, Obama got a long list of concessions from Republicans on other White House priorities, securing an economic "stimulus" program far bigger than most analysts thought possible in Washington's vitriolic climate.
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