The real reason the Senate voted to slash the president's tax cut was to keep $311 billion more to spend on their projects. Forget all of the talk about bipartisanship and debt reduction. It doesn't mean a thing.
Senators Lincoln Chafee of Rhode Island and Jim Jeffords of Vermont - both liberals - wanted lots of new spending as their price for supporting their own party's president. Jeffords wanted a massive new federal entitlement program. They didn't get what they asked for and so they made this new president look bad.
Term limits remain the answer to a lot of our problems, including spending.