And the left is going bonkers!
On Saturday, a handful of Democrats in the U.S. Senate joined a united GOP caucus in rejecting the Obama tax plan that would have raised taxes on the nation's job creators.
It didn't take long for Obama to realize the game was up and so he agreed Monday afternoon to accept a two year extension of current tax rates along with some payroll tax cuts and a new deal on death taxes.
In his remarks [video] announcing the agreement, which Democrats in both legislative chambers have yet to endorse, there was none of the usual expressions of thanks to the other side in the negotiations. It was clear that Obama resented being forced to compromise and work with Republicans, even though that was something he promised he would do during the 2008 campaign.
Frank Rich, NY Times columnist and mouthpiece for the left, suggests Obama is suffering from "Stockholm Syndrome" in which Obama is being held hostage by Republicans. Moveon.org isn't happy either. They want the old Obama back. You know, the one who sounded like a moderate but acted like a liberal.
The new Republican majority in the House of Representatives as well as new incoming GOP Senators won't be sworn in until January. But already, Obama is being forced to cave on the core issues his followers care about most. Obama's move here is one of accepting reality. A rare event for him but one that does not necessarily signal he is triangulating to the center. Still, Monday's act is enough to infuriate the left. Will one of them now mount a primary challenge to Obama in 2012?