More analysis of Obama's hostage crisis

Good God, I think I agree more with Charles Krauthammer than Paul Krugman. One reason is that much of the political costs that Krugman mentions disappears if Obama takes up tax reform next year.

That said, if the revolt of the House Democrats succeeds in squeezing more out of Republicans (as opposed to scuttling the deal entirely) I'm all for it. It would be great if the Democrats could get the Republicans to accept a lower threshold or higher marginal rate on the estate tax, but I doubt it. Money for infrastructure investment maybe? At a minimum I'd like to see the debt ceiling lifted now rather than risk a showdown over this issue in February.