If obama does cut taxes and cut spending I will praise him, but I doubt it.. there is no way he can cut much of anything, his fellow dems will block it. So he won't be able to go ahead with his tax plan..
What I think we will see, is the very lowest brackets get more of a earned income credit and the upper classes pay taxes higher than the clinton years to fund social programs and unlike the clinton years this is not a bubble economy we are in a recession
What politicians say and what they do is two very different things. That goes for both parties.