Obama to call for extension of evil tax cuts

Will speak later this morning, calling for an extension of the Bush tax cuts for those earning less than $250,000.

The cuts are scheduled to expire on January 1, 2013, part of the fiscal cliff.

Expect no action before the November elections but a flurry of action in the lame-duck session of Congress at the end of the year. The cuts will almost certainly be extended in some for or fashion.