The Morning Plum  —  UPDATE: White House denies giving in on Bush tax cuts: The White House is sharply denying the Huffington Post story I noted below claiming that David Axelrod signaled a willingness to accept a temporary extension of all the Bush tax cuts, claiming that their position remains unchanged.

President Obama ready to deal on Bush tax cuts for the wealthy  —  The White House signaled Wednesday that President Barack Obama is ready to cut a deal on the Bush-era tax cuts - accepting a temporary extension of the cuts for the wealthiest Americans to win renewal of tax breaks for middle-class taxpayers.

Unserious People  —  OK, let's say goodbye to the deficit commission.  If you're sincerely worried about the US fiscal future — and there's good reason to be — you don't propose a plan that involves large cuts in income taxes.  Even if those cuts are offset by supposed elimination of tax breaks elsewhere …

Michele Bachmann drops leadership bid  —  Minnesota Rep. Michele Bachmann dropped out of the race for House Republican Conference chairwoman Wednesday night, ending a quixotic bid for leadership that many saw as the first real test of the tea party against the GOP establishment.