Are Republicans about to cave on tax hikes?

[Skill and Chance]

At this point, frankly, I don't think Obama wants a deal, or that he would benefit from one.  If it comes to it, let the public see what kind of government they get if they don't want to pay any taxes.  And a default provides the perfect backdrop against which to shift blame for the continued economic weakness onto the "do-nothing" GOP congress, like Truman successfully did in 1948.

[Skill and Chance]

The way I se things higher taxes and sharp cuts to spending are going to have to be made eventually. Regardless of whether a Democratic or Republican Administration is elected in 2012.

But the 2012 result probably makes the difference between an 80/20 split in favor of cuts or in favor of taxes.