Democrats Should Be Ecstatic About Obama's Compromise

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Should Democrats reconsider their filibuster? Ever since President Obama secured a compromise with Republicans on tax cuts, hard-left quarters of the Democratic Party have been furious with Obama. On Thursday, one Democratic rep went so far as to say "f-- the President" at a meeting of the House Democratic Caucus. But is their furor misplaced? Yes, according to The Washington Post's Charles Krauthammer. Unlike many of his fellow conservatives, Krauthammer calls the compromise a "second stimulus" package disguised as a tax break. He's astonished that Democrats don't realize this.

"Barack Obama won the great tax-cut showdown of 2010 --and House Democrats don't have a clue," he writes. "In the deal struck this week, the president negotiated the biggest stimulus in American history, larger than his $814 billion 2009 stimulus package. It will pump a trillion borrowed Chinese dollars into the U.S. economy over the next two years."

He's also miffed at Republicans for going along with the president's compromise. "Some Republicans are crowing that Stimulus II is the Republican way--mostly tax cuts --rather than the Democrats' spending orgy of Stimulus I," he continues. "That's consolation? This just means that Republicans are two years too late. Stimulus II will still blow another near-$1 trillion hole in the budget."

What do you think? Are Democrats missing out on a sweet deal? Somewhat predictably, Krauthammer's counterpart Paul Krugman disagrees.

This article is from the archive of our partner The Wire.