Daily Political Wire

George Wenschhof

Millionaire Tax - Round Two - President Obama will present his deficit reduction plan tomorrow and included will be the "Buffet Rule". The "Buffet Rule" named after billionaire friend Warren Buffet will increase taxes on the wealthy to help reduce the deficit. TheHill.com has more here.

The President will deliver his deficit reduction speech tomorrow from the White House Rose garden at 10:30 Am ET.

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Obama Needs To Get Stronger on Economy - according to an editorial in The NY Times today. They point out a recent poll showed Americans were supportive of increasing taxes on the wealthy to help reduce the deficit and that long standing Republican Party positions of less spending and less government are not held by a majority of Americans.

In addition, they praise the President for his Stimulus Plan, which had it's impact diluted by Republican opposition which resulted in a lower amount of funds than what was needed to jump start the economy. You can read their editorial here.

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Suskind Book Details Conflicted Obama Administration - “Confidence Men: Wall Street, Washington, and the Education of a President”, written by Ron Suskind is hard on the internal decision making process in the Obama administration. The book is set for release this week and comes as President Obama is facing low reelect numbers. The White House is already responding with defense against the accusations depicted in the book. Politico.com has more here.

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Palestinian Bid For Statehood Puts U.S. in Delicate Position - the Israeli-Palestinian peace talks have been broken down for over a year, with some arguing they never got started in spite of the best efforts of u.S. Middle East Envoy George Mitchell.

The U.S. brokered proximity talks turned out to be a wasted effort and now the U.S. is forced with voting against the UN recognition of Palestine as a nation, even though they support it. You can read more here.

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Battle For Gaddafi Strongholds Continues - The National Transitional Council is trying to dislodge Gaddafi loyalist from the towns of Sirte and Bani Walid, but are meeting strong resistance. Control of these towns is critical before moving forward with establishing a democratic form of government in Libya. Reuters.com has more here.

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