Do we need to let the Bush Taxcuts expire completely? Your opinion, please.

[tcaudilllg]

I argue yes, because their expiration will collapse the deficit. It would be very, very good political sense in that it would eliminate the Tea Party's key argument, that the deficit is getting dangerously wide. Without this argument, they are like to dissolve into their composite factions.

Collapsing the deficit would be a very, very good idea that would leave conservatives without a talking point. The end of 2012 is a long, long way away after all.

Obama argues that the Republicans are holding the unemployed hostage, alleging that they will cut off unemployment benefit renewals if he doesn't deal. I don't think they are ready to do that... McConnell signaled that there was no debate about extending unemployment benefits, only about how to pay for it.

The risk of economic relapse is minimal. The same arguments were made in 1994, when taxes were raised to the point they are set to return to, and look what happened there. There is no conclusive historical evidence for offered rationale for extending the cuts.