Haven't we been through this before? A Bush saying, "No new taxes." Well, I think that ultimately Bush the First blinked and the taxes were raised. Bush the Second is probably much better positioned to ensure that the taxes aren't raised... on his watch. So later, when the People are all experiencing great trauma and angst because the Right way turns out to be the wrong way, and taxes will have to be raised anyway, you can be sure that the Right will use this as a way to prove that Democrats are tax and spend.
Although personally I'm pretty fed up with politicians as a whole. I think that we could replace all of the people in elected positions with woodland creatures and end up with at least a zero-sum result, but quite probably an increase in citizen satisfaction. Our complaints would change from, "My (Senator, Representative, President, etc) is ineffective, corrupt and doesn't have my best interests at heart," to, "My (Senator, Representative, President, etc) is ineffective but so darn cute and snuggly," or perhaps, ""My (Senator, Representative, President, etc) is ineffective and currently gnawing on my leg."
I see this as a win/win.
What to do with our current elected officials? I guess they can go live in the woods.