President Barack Obama sacrificed one of his top campaign promises -- raising taxes on high earners -- in a compromise with Republicans to extend current tax rates for everyone for another two years.

Obama also got a major extension of unemployment insurance, an expansion of college tax credits that were part of the 2009 stimulus, a measure to allow businesses to expense all of their investments in 2011 and a payroll tax reduction in 2011 that will increase take-home pay for workers.

Still, the deal means that upper-income people will pay the same lower rates for at least two more years.

Obama said he still opposes continuing the current tax rates for higher earners, but that he has been unable to persuade a majority of the Senate to go along with his position. He said he will continue to argue against making the tax rates permanent.

Whether the deal makes it through Congress remains to be seen, and staff members are still working out details of the proposed legislation. But the announcement of a framework indicates clearly that Obama is not holding out for his promise. For now, we're moving this promise to Stalled.