Team Obama Has Its Hank Paulson-On-His-Knees Moment

Larry Summers Leaving 921

Photo: Bloomberg

It’s kind of remarkable how similar the tax debate is to the TARP debate. In both cases an unpopular President made a deal with the opposing party, much to the chagrin of his own party.Supposedly Hank Paulson got on his knees and begged for Pelosi’s support, warning her of disastrous consequences if TARP weren’t passed.

Now team Obama is getting similarly desperate and alarmist. Larry Summers — not technically a member of the administration — is warning of a double dip if the taxes aren’t passed, and the message is aimed squarely at Democrats.

The message: If you don’t vote for the tax cuts, you will have the blood of a double dip on your hands. Do the right thing! Please! We’re begging you.

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