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Fiscal Cliff Negotiations' 'Disastrous Strategic Consequences' For Obama

I'll be blunt: I hate the fiscal-cliff compromise that Mitch McConnell and Joe Biden are hammering out today, which will make the Bush tax cuts permanent on income below $450,000, renew the current, relatively generous, level of unemployment benefits for a year, along with some low- and middle-income tax credits, and grant the GOP a reprieve on the scheduled reversion of the estate tax to its Clinton-era setup.