President Obama, shown here in 2008 in New Hampshire, vowed he wouldn't raise taxes for families earning less than $250,000. Keeping the campaign promise would add billions to the deficit every year. Chris Carlson/AP hide caption

itoggle caption Chris Carlson/AP

President Bush signs the 2003 tax cut package at the White House. With Bush are then-Commerce Secretary Donald Evans, Treasury Secretary John Snow, Senate Majority Leader Sen. Bill Frist, and House Ways and Means Chairman Rep. Bill Thomas. Susan Walsh/AP hide caption

itoggle caption Susan Walsh/AP