One display of Leadership President Obama could display is to do nothing until after the first of the year. The Republicans have already stated that if he were elected again and they took the Senate this was going to their course of action.

But Republicans are either lying about this or delusional. On 1 Jan 13 the Bush tax cuts expire. And then a new Bill would be have to be drafted, debated, voted on and signed by the President. This could be done quickly, but the Republicans would have to agree to compromises for this to take place. Will the Tea Party allow this, or will Republicans vote with the Democrats and shut out the Tea Party?

Are Republicans really going to let the Bush tax cuts expire, or will they see the futility of their actions and infuriate their base?

By the way, if the current tax laws are allowed to expire I would see a rise in taxes owed by myself. I am OK with this and I do not foresee any decline in my standard of living.