This may come back to haunt him:
But let me perfectly clear, because I know you'll hear the same old claims that rolling back these tax breaks means a massive tax increase on the American people: if your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.
Obama seems intent on running a permanent campaign, and he's still making the kind of over-the-top promises that campaigns toss around like Monopoly money. In this speech he promised cap and trade and health care reform this year. He promised universal college education. He promised a cure for cancer. Obama also promised that he, too, would "sacrifice some worthy priorities for which there are no dollars."
Obama's critics during the campaign -- Democratic and Republican -- painted Obama as a lightweight who talked a good game but wouldn't be able to deliver. Clinton accused Obama of raising a "false hope" and pointed out that it wasn't the speeches of JFK and Martin Luther King that landed a man on the moon and ended segregation, but the competence and oversight of a rather less inspiring LBJ. Now Obama, having promised so much during the campaign and already off to a bad start with his new era of bipartisanship, is pledging massive increases in spending, huge reductions in the deficit, and no new taxes for 95 percent of Americans. It's only been a few weeks, but so far all the American people have to show for Obama's election is $1 trillion in new debt and a thousand point drop in the Dow. Everything else is still just talk, some of which has the potential to damage the economy even further if implemented poorly or, in the case of cap and trade, implemented at all. The only thing Obama's certain to deliver is the one thing he claimed tonight he didn't believe in -- bigger government.