McConnell: Obama Wins The Tax Fight — Now On To The Debt Limit | Talking Points Memo

The top Republican in the Senate acknowledged Tuesday that President Obama has the upper hand in the debate about income tax rates on high income Americans. And he became the highest ranking GOP official to assert that Republicans will have to wait until next year, when the debt limit needs to be raised, to effectively push for cuts to social programs like Medicare, Medicaid and Social Security.

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