Barack Obama gives way to Republicans over Bush tax cuts

http://www.guardian.co.uk/world/2010/dec/06/barack-obama-bush-tax-cuts

But leading Democrats say the president is backing down and has agreed to extend tax cuts for everyone. In return, the White House appears to have extracted an agreement to extend benefits for the long-term unemployed.

"I know we're in debt so we'll only agree to reduced income if you agree to increase spending.  Agreed." - US Government to itself.