This is a huge cave for Obama who has been promising all along that he would never allow for he wealthy tax cuts to be extended.
He is not breaking that promise (caving) and has now lost more of his left wing support forever.
Big win for the GOP who played this right and America too which will now see unemployment fall.
I am up on the story. I simply do not believe a single word that Obama says. When Obama actually signs a bill that fixes the top income tax rate at 35% and locks in the rate on long-term capital gains at 15%, only then will I acknowledge that he caved. Keep in mind that without Obama’s signature, all rates go up in 3½ weeks which is what he has always wanted all along. Also keep in mind that Nancy Pelosi still holds the gavel. I don’t trust her either.