George Packer imagines a likely endgame:
My guess is that the House will give [Obama] just enough of his plan—further cuts to payroll taxes paid by employers and employees—to be able to say, We’re not rank partisans and blind ideologues: we are doing something. But this wouldn’t be nearly enough to reverse the downward economic slide, allowing the opposition to go on playing the game it’s played since Obama’s inauguration—to lay the blame on him for the results of their own acts of legislative sabotage.
The Dish 