Grand bargain (United States, 2011)

The Grand Bargain was an attempted political compromise between the Democratic and Republican Parties in the United States during the 2011 budget debates, in which the Democrats would have agreed to historic cuts in the federal government and the social safety net, in exchange for an increase in federal taxes.[1] However, due to the rise of the Tea Party, any increased taxes were unpalatable to the Republican base, while President Obama's base panicked over the possibility of cuts, causing the compromise to fail.[2][3][4]

Among centrist pundits, hopes for the Grand bargain lasted until the resignation of Speaker of the House John Boehner in 2015.[5][6]

References

  1. ↑ Grim, Ryan (September 8, 2011). "John Boehner Rejects Obama's Grand Bargain On Debt Ceiling". Huffington Post.
  2. ↑ Bai, Matt (March 28, 2012). "Obama vs. Boehner: Who Killed the Debt Deal?". New York Times Magazine.
  3. ↑ Wallsten, Peter; Montgomery, Lori; Wilson, Scott (March 17, 2012). "Obama's evolution: Behind the failed 'grand bargain' on the debt". Washington Post.
  4. ↑ Newton-Small, Jay (July 23, 2011). "The Inside Story of Obama and Boehner's Second Failed Grand Bargain". Time Magazine.
  5. ↑ Lawrence, Jill (September 26, 2015). "John Boehner resignation kills hope for grand bargain". USA Today.
  6. ↑ Thrush, Glenn; Wheaton, Sarah (September 25, 2015). "Boehner and Obama: Caught in a bad bromance". Politico.
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