Cliff Notes

11:00 a.m. E.T.

Liberal skepticism about the Deal seems based on at least four points: (1) the President gave on the income threshold for marginal rates; (2) the overall amount of new revenue is far below what the President and Boehner were discussing just days ago; (3) there are other less high-profile elements of the package (like the estate tax) on which the left thinks the President gave too much; and, (4) most importantly, the combination of the looming need to raise the debt ceiling and the just two-month delay in the sequester spending cuts means the Democrats will have a weaker hand in the next round or two of talks.

Those are understandable concerns, but it is hard to see this deal as anything but a big win for the left and the President. The jumbo, bipartisan vote in the Senate gives the package momentum in the House. If it passes, the White House can have reason to be somewhat confident that the idea of rolling out of this with momentum into the next round of budget talks and onto immigration, energy, and, maybe crime, isn’t a fantasy.

Related Topics: John Boehner, Barack Obama, Mitch McConnell, Joe Biden, Mark Halperin, Fiscal Cliff, Analysis, Congress, House, Senate, The Page

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