​Obama’s Fiscal Politics: Snatching Defeat out of the Jaws of Victory

Published on Thursday, November 29, 2012 by The American Prospect

Obama’s Fiscal Politics: Snatching Defeat out of the Jaws of Victory

When it comes to the fiscal cliff, the president is in a superb tactical position. Why is he making concessions before he has to?

President Obama, to his great credit, has drawn a bright line. Taxes have to revert to the rates that were in effect before Bush tax cuts for the richest two percent.

This is crucial because the less the very rich pay, the more others have to pay either in the form of less tax relief for the bottom 98 percent or on program cuts like Social Security and Medicare.

Or has he drawn that line?

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