Nothing is more important to U.S. Senate Republicans than extending the Bush-era tax cuts for the nation's wealthiest households. A day after senior congressional Republicans met with President Barack Obama about forging a way forward, Senate Republicans signed a letter vowing to block all other significant legislation until tax cuts are extended for all. That is irresponsible, and it confirms that their narrow interests are not in line with the concerns of most Americans. Obama and Senate Democrats should negotiate in good faith for a reasonable agreement on the tax cuts, but they should not give in to this all-or-nothing demand.

Senate Minority Leader Mitch McConnell of Kentucky defended the Republican ultimatum by claiming congressional Democrats and the president are ignoring the message from the election results. But it is McConnell and his fellow Republicans who have misread voters. The Democrats lost seats because of voter fears about the lack of jobs and to a lesser extent the size of the federal deficit — not because Democrats oppose adding to the deficit by extending tax cuts for the wealthy.

Obama supports extending the tax cuts to 98 percent of American households. Extending the tax cuts for the top 2 percent with incomes of $250,000 or more, as Republicans insist, would exacerbate the very problems that voters want addressed. It would add $700 billion to the federal deficit over 10 years without stimulating the economy to create jobs, since wealthy people tend to save rather than spend extra income.

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