President Barack Obama Signs Tax Cut Extension into Law at WH Ceremoy … Pelosi, Reid & Boehner No Show

President Barack Obama has his George H.W. Bush moment … “Read My Lips, No New Tax Cuts for the Rich”

Yesterday, Barack Obama signed the Bush era tax extensions and called it compromise. However, noticeably absent from the tax cut extension signing ceremonies were Democrat Senate Majority Leader Harry Reid, Democrat Speaker of the lame duck House Nancy Pelosi and Republican Speaker of the House elect John Boehner. In the end, the tax extension bill was one that no one liked, that’s the definition of compromise for Obama.

In essesnce, Obama extends the Bush era tax cuts … didn’t Obama run on doing just the opposite?

President Barack Obama celebrated the spirit of compromise Friday as he signed a controversial $858 billion tax cut and unemployment insurance extension into law — but warned that bipartisan comity could be fleeting.

The bill, the result of a deal Obama cut with Senate Republicans over the objections of many Democrats, was a major victory for a White House that spent much of the past two years battling a unified GOP on the stimulus and health care reform.

“We are here with some good news for the American people this holiday season,” Obama told about 150 people, including Senate Majority Leader Mitch McConnell (R-Ky.), gathered in the Eisenhower Executive Office Building.

Noticeably absent were Speaker-to-be John Boehner (R-Ohio), Senate Majority Leader Harry Reid (D-Nev.) and House Speaker Nancy Pelosi (D-Calif.), who were all cut out of initial negotiations between Obama’s staff and McConnell.

Exit Question: Will Barack Obama’s endless campaign promise to Democrats and his base that he will end tax cuts for the rich come back to bite him like George H.W. Bush’s promise of “read my lips no new taxes” did? Obama consistently railed on tax cuts for the rich and played class warfare. Ending tax cuts for the rich was a major element of his 2008 Presidential campaign. How betrayed does his base feel today? How will this affect the 2012 elections and might there be a primary battle from the LEFT?

No family making under $250,000 will see any form of tax increases

Of course Obama claimed he was against earmarks and said nothing when the $1.3trillion Omnibus bill was presented, prior to Reid pulling it due to outrage from We the People.