Ann is right. This is the only possible way to ensure that Obama will be required to take ownership of the economy. Let Obama own the tax hike on the top 2 percent of the job and wealth creators, and with that concession make sure that Obama owns the economy that follows.
"Standing on principle" will absolutely ensure that the general public will blame Republicans for EVERYTHING. It will allow Obama to achieve his primary objective - destroying the Republican party forever and in its vacuum creating a Chicago-style one-party patronage state where the state chooses who gets to play. In that world one will have to pay indulgences to the power elite in order to play. Conservatives will no longer be relevant in such a nation.