I was reading another CN'ers blog a minute ago. It was an entry about how President Obama negotiated a deal to extend all of the so-called "Bush Tax Cuts" for two years. Personally I felt like he threw in the towel (like he has done too many times before) and disappointed progressive Americans and deficit hawks that put their lot in with him. But my point isn't really to debate that stuff.
What I have been thinking is about how this past election, the Republicans made these tax cuts a major part of their platform. Now that he has kicked the can down the road two years, he has set himself up to allow the Republicans to make it an election issue when HE is up for reelection in 2012, pissing off progressives and liberals in the process. This will bite him (and possibly all Democrats) in the ass.