Obama’s compromise tax deal: Will his own party approve?

This time, the president is directing his talk not to Republicans, but to the congressional members of his own Democratic Party. President Obama even sounded like scolding his partymates as he warned them not to be stubborn for the interest of the American public.

The president offered a gesture of interest in “working together” with Republican lawmakers to pass the highly debated Bush tax cuts, which are set to expire at the end of the year and other economic measures aimed at stimulating the US economy.  

They agreed on certain points including extension of tax rates for all brackets for 2 years, continued government assistance for unemployment insurance claims for the next 12 months, and payroll tax reduction for 1 year that would essentially trim social security contributions paid by workers, are just among the agreed points of the compromise deal which both sides believe will greatly benefit the middle class and boost demand in the economy.

A lot of Democrats are not too happy with the compromise saying the president gave away too much and will not be able to obtain some of the promises he made during the campaign. The president, already expecting opposition to the deal, strongly suggested that he would not let the battle of political ideologies between Democrats and the GOP to claim ordinary Americans as collateral damage.