Looming? No. It has already taken affect.
>> I would be happier if Obama took steps to raise taxes.
Do tell, what steps would you have him take? The Republicans have sworn to not raise taxes at all. They control the house and have unleashed a record smashing set of filibusters (and no, not the Rand Paul style) in the senate. Thanks to gerrymandering, they can (and must) hold stedfast to ideologues. There's also the corporate interests to look after.
>> At the place I work we lost an employee due to grant shortages.
Classic. You want taxes to be raised so your employment can be safeguarded. Meanwhile the grants, and jobs in turn, are a waste of time and energy.
For all we know a tax increase may decrease the total money collected by the government as the wealthy flee into more favorable tax regimes. This is all right from the point of wealth redistribution (it happens anyways as the local wealth decreases even through different means) but would be unacceptable from the income/spending point of view.