**UPDATED**

“I’m prepared to take on significant heat from my party to get something done.” – Pres. Obama

There’s something haunting about this photo. Obama look on as history passes.

President Barack Obama watches the launch of the Space Shuttle Atlantis on a television monitor in the Outer Oval Office, July 8, 2011. (Official White House Photo by Pete Souza)

In August 2009, on a visit to Elkhart, Indiana to tout his stimulus plan, Obama sat down for an interview with NBC’s Chuck Todd, and was conveyed a simple request from Elkhart resident Scott Ferguson: “Explain how raising taxes on anyone during a deep recession is going to help with the economy.” Obama agreed with Ferguson’s premise “” raising taxes in a recession is a bad idea. “First of all, he’s right. Normally, you don’t raise taxes in a recession, which is why we haven’t and why we’ve instead cut taxes. So I guess what I’d say to Scott is “” his economics are right. You don’t raise taxes in a recession. We haven’t raised taxes in a recession.” – Stephen Hayes, the Weekly Standard

If you watched the Sunday shows you heard this refrain repeated over and over again: Not long ago, Obama warned that raising taxes in a struggling economy is “the last thing you want to do.”

Pres. Obama has never made the Democratic economic case, because he doesn’t believe in it.

Now he’s managed to elevate Speaker Boehner as the “grown up” Republican, while Eric Cantor, who did all the talking yesterday, is the crank.

Chuck Todd said a mouthful this morning on his show. John Boehner “presides over the conference, he doesn’t lead them.”

The debt ceiling will be extended, that much we know. Wall Street called Republican central and threatened them, so now everyone’s on message.

So why is Pres. Obama continuing to push for the biggest deal he can get, including entitlements? It’s what he wants.

UPDATE – NOTES on presser: Obama talks about a “balanced” approach, that includes “shared sacrifice…” that would take on “sacred cows” and “preserve the integrity of the programs…” “Resistance on my side to do anything on entitlements.”

“We’re going to resolve this and we’re going to resolve this for a reasonable period time and in a serious way.” – Pres. Obama

What happens if Rep. continue to balk on no tax increases? “I will not sign a 60 day, a 30 day or a 90 day extension.” “Pull off the band-aid, eat our peas.”

“Nobody has talked about increasing taxes now. Nobody has talked about increasing taxes next year,” Obama continued.

“I have a stake in John Boehner persuading his caucus…” Obama continues to back up Boehner, which is only going to make Eric Cantor stronger.

“The vast majority of Democrats on Capitol Hill would prefer not doing anything on entitlements… Medicare, in particular will run out of money & we will not be able to sustain that program… It is not an option to do nothing. …”

Pres. Obama then focuses on progressives by trying to twist the truth about entitlements, that it must be done now, tied to the debt ceiling, which is untrue. “Trimming benefits” and “increasing revenue.”

“Social Security is not the source of our deficit problems.” “Extend its life” and “strengthen” it… “If you’re going to take a bunch of tough votes you might as well do it now.”

The above quote from Pres. Obama reveals his conservative approach to entitlements once again. He admits that Social Security isn’t the problem, that targeting SS for change is very tough and even though it’s not needed now it’s perfect timing do it when you’re doing a lot of tough votes, meaning Obama’s purposely squeezing Democrats on entitlements using the debt ceiling to do it.