(Official White House Photo by Pete Souza)
–Jackie Calmes reports the White House is seriously considering pursuing base-broadening, rate-lowering tax reform in the new year.
–The Obama tax proposal gets an official price tag: $858 billion over 10 years.
–Paul Krugman is very, very convinced the deal would dim Obama’s re-election prospects by front-loading economic growth in 2011, thus setting up a disappointing 2012.
–Mark Zandi insists it’s necessary for the economy to achieve “escape velocity” from the recession.
–House Democrats are in revolt. The tax plan was voted down in a caucus meeting and 50+ members signed a protest letter to Obama. A few points: It’s not the first time liberals in the House have threatened breaking ranks. There are already tweaks being made. Some influential House Democrats opposed to the deal still want it to get a vote once other options are exhausted. And finally, if Nancy Pelosi wants it to happen, it will happen. For now, she’s departed for Oslo with plenty of wiggle room:
We will continue discussions with the President and our Democratic and Republican colleagues in the days ahead to improve the proposal before it comes to the House floor for a vote.
–Charles Krauthammer is convinced (and incensed) that Democrats got a really good deal. This graph shows why:
–Olympia Snowe will support new START.
–Karen Tumulty profiles Rick Santorum.
–Peter Orszag moves to Citigroup and pens a final column for the Times.
–And if you want to kill a few hours, click around time.com’s top 10 everything of 2010 (campaign ads and political gaffes are included.)
What did I miss?