Democrats coming out against Obama's tax changes

Democrats need all 59 Democrats in the Senate and at least one Republican. Well, it looks like the Democrats will only get at most 55 Democratic Senators.

Despite President Obama's accusation Wednesday that Republicans are holding middle class income tax cuts "hostage" by tying them to an extension of tax cuts for wealthier Americans, the reality is several Democratic senators also oppose allowing President Bush's tax cuts for higher earners to expire.

Democrats Ben Nelson of Nebraska, Evan Bayh of Indiana, Kent Conrad of North Dakota, and Independent Joe Lieberman of Connecticut have each publicly expressed concern about the impact of raising taxes, even on the well-to-do, during an economic downturn.

"The general rule of thumb would be you don't want to do tax changes, tax increases...until the recovery is on more solid ground," Conrad said recently, summarizing their view.

Each has said the tax cuts should be extended at least temporarily. . . .

Zandi has been a cheerleader of the Democrat plans all along. This can't be good that they have lost even him on this. Even former Obama budget director Peter Orszag has jumped ship.

Moody's Analytics Chief Economist Mark Zandi has called on Congress to extend all of the tax cuts for a year, and former Obama budget director Peter Orszag this week said all of the tax cuts should be extended for two years as part of a compromise. In a column in The New York Times, Orszag wrote that Congress should then end all of the Bush-era tax cuts. . . . .