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Tax Cut Debate in Focus

The roles have switched on Capitol Hill. Republicans are singing the praises of President Obama and Democrats are upset with him for extending the Bush Era tax cuts.

On Washington Unplugged, Jack Quinn, former White House counsel to former President Bill Clinton says he understands why Democrats are peeved but people have lost sight of what Mr. Obama received in exchange for extending the cuts.

"He got some terrific stuff here. First of all a stimulus for this economy, secondly, an extension of unemployment benefits," Quinn said.

While Republicans applauded Mr. Obama's move, they don't see this as a proverbial "olive branch".

Marc Lampkin, an adviser incoming to House Speaker John Boehner says Republicans know this compromise is an audition to take control of the White House in 2012.

Watch Wednesday's Washington Unplugged above also featuring Dr. Gordon Livingston who remembers his close friend Elizabeth Edwards, who passed away Tuesday and Elizabeth Palmer with the latest on the arrest of WikiLeaks' Julian Assange.

  • Tolleah Price

    Tolleah Price is an associate producer for CBSNews.com.