By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.

I think making a pretense of civility toward Eric Alterman is like making a pretense of civility to a scorpion.

All non-incumbent campaigns promise hope and change, but Obama took the promise to a new level of absurdity. He suggested that a vote for him would literally transform the Earth.

If you want to know why Republicans and conservatives are in a political crisis, you need only consider the fact that the Right's deeply held view now boils down to this: Taxes should not go up on the wealthy, and your health benefits should be cut.

The United States established itself as a trustworthy new nation in its first two decades after the Revolutionary War by paying its debts, even when many in the country believed it had no obligation to do so. Alexander Hamilton, the founder of this newspaper, insisted on it.

The classic rule of thumb is that if you are an intellectual ideological magazine, you do better in opposition than you do if your views are reflected by people in power.

When Obama was inaugurated, he and his team had an insight - though whether the insight was conscious or not I don't know. But it was this: The TARP $700 billion price tag was a new kind of model.