Obama's tax-cut deal upsets many major donors

[spanone]

President Obama's advisors are confident that liberals dismayed by his agreement to extend tax breaks for the wealthy will forgive him by the time the 2012 election kicks into gear.

But the current backlash on the left may intensify the immediate challenge Democrats face in building a new campaign finance apparatus to challenge Republican-allied outside groups that flexed their muscles in this year's midterm election.

Democratic operatives are already laying plans to set up new independent expenditure committees that can raise unlimited funds, and hope to enroll early contributors to establish a beachhead for the coming campaign. But some stalwart party donors are vowing to withhold funds because of their anger over the tax-cut deal.

"I do not plan to support Obama and his reelection effort," said Utah-based hedge fund manager Art Lipson, who gave hundreds of thousands of dollars to the Democratic Party and its allies in recent elections. He views the tax-cut compromise as a giveaway to Republicans that will increase the deficit.

"He's got many great qualities, but he is not a fighter," Lipson said of the president. "I've met with many donors and the level of disappointment is extreme."

http://www.latimes.com/news/nationworld/nation/la-na-dem-donors-20101210,0,863668,print.story

[Liberalynn]

1. Wonder if they would back a primary challenger?

[TheWraith]

3. No. nt

[Catherina]

5. "the level of disappointment is extreme." My, won't you be surprised. n/t

[girl gone mad]

8. Yes. n/t

[aquart]

2. Oh, good. Maybe he'll listen to them.

"Not a fighter." Understatement of the century.

[Bobbieo]

6. There is a word that no one seems to want to mention that would clean the slate.

[readmoreoften]

4. God, when hedge fund owners know you're the against the people, I don't know what to say.

You've really screwed the pooch. Hope there's a lot of "independents" for you out there.

[ProSense]

7. "hedge fund manager Art Lipson,

who gave hundreds of thousands of dollars to the Democratic Party and its allies in recent elections"

Hedge fund managers and venture capitalists? Major donors to the Democratic Party in recent elections? Who says they're major donors to Obama?

[WillyT]

9. So... It's ALL About Obama ???

Not Democratic House Members... Not Democratic Senators... Not Democratic Governors... Not Democratic State House Members... Not About Democratic Mayors... Not About The Democratic Rank And File...

:shrug:

[Liberalynn]

10. Its not the House or the Senate

who put the Payroll tax Holiday in the bill or hired the Cat food Commission. It was Obama.

Don't get me wrong the House and Senate have made their share of mistakes, but for a supposedly Democratic President to attack SS in such a manner is just sickening to me.

That's why I would be more than willing to vote for a primary challenger.

[spanone]

11. it just boggles the mind what the white house was thinking....

did they think the dems in congress would gladly go along with any deal they got? boggling

seems politically foolish