Right now, the president is saying a lot of the right things, such as increasing taxes on top-end dividends. (Well, it's halfway right; when we start taxing all income as income, then, it will really be right.)
Anyway, the proof will be in the pudding ... will we have a summer backtrack/compromise, or something after the election, win lose or draw? Assuming that the author of "Obama on the Couch" (recently reviewed here) is right, Obama isn't a confrontationalist in general, so backtrack is a definite possibility.
Election-year fundraising, as well as shoring up of voter support, will also be a factor.