From the piece:
“If we had a deal on Dec. 10, both bases would say, ‘You guys are nuts, you gave too soon, you gave too much.’ It’s not surprising that it hasn’t come together yet,” Peter Orszag, Obama’s first director of the Office of Management and Budget, said today on MSNBC’s “Morning Joe” program.
“You can see a deal coming together on taxes, some increase on marginal tax rates, not to 39.6 percent, some reduction in tax expenditures,” said Orszag, vice chairman of global banking at Citigroup Inc. and a Bloomberg View columnist. The best approach, he said, “is to try and do as much up front as possible. The more that’s kicked to a second-stage process, with promises, detail TBD, the less credible it is.”