South Carolina’s James Clyburn, the third ranking Democrat in the House, appeared overwhelmed with joy. He proclaimed:
“So here we are on New Year’s night, with the clock running out on the very existence of this Congress, finally considering bipartisan legislation to provide middle class tax cuts, require the wealthiest to, once again, pay their fair share so we can grow the economy, create jobs and protect the most vulnerable in our society.”
The twenty-year House veteran appeared convinced that deal crafted less than 24 hours earlier satisfied President Obama’s “fair share” campaign promise.
Mr. Clyburn was not alone, though. Moments...