President Obama met with the Republican leadership at the White House to discuss legislative goals. The practical result was a working group to be led by Treasury Secretary Giethner to work with both sides.

Although everyone was trying to move away from the overheated campaign rhetoric, from their press statements you might think they attended different meetings.  Still, the smart money in Washington has concluded that Congress will pass and the President will sign a set of  two year tax extenders for everyone, including the high end taxpayers.  The working group is only providing political cover.