The Tax-Cut Deal

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As it became clear last week that Congress would pass the tax-cut deal he made with Republicans, President Obama said it “proves that both parties can in fact work together to grow our economy and look out for the American people.” It proves no such thing. Mr. Obama himself described the talks that led to the $858 billion deal as a hostage negotiation. The Bush-era “middle class” tax cuts were extended for two years, along with other tax cuts that both sides want...