Obama: Republicans Are Playing Politics, 'Pure and Simple'

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Tax Cuts Key Issue

According to the latest ABC News/Washington Post poll, 33 percent of Americans believe Obama's economic program has made the economy worse, while only 30 percent believe it has improved the situation. Moreover, a record 57 percent disapprove of how the president has handled the economy.

Making matters worse, at a time when the November elections are fast approaching, there is no quick fix for the White House -- not with Congress more focused on campaigns than anything else for the next 60 days. Whether the White House, and businesses, like it or not, this fall is about campaigning, not passing major legislation.

Even Obama's former budget director Peter Orszag said Tuesday that the tax cuts should be extended for two years.

"Higher taxes now would crimp consumer spending, further depressing the already inadequate demand for what firms are capable of producing at full tilt," wrote Orszag, the former director of the Office of Management & Budget, in a column in the New York Times.

In addition to Orszag, a handful of Senate Democrats have also weighed in against letting the tax cuts expire. That is not welcome news for an administration already wrestling with partisan gridlock, the possible loss of power on Capitol Hill and a growing number of Americans who disapprove of its handling of the economy.

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