Lame duck session would be last chance for a ‘Grand Bargain’

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With members of Congress back in their districts until the election and the “fiscal cliff” set to take effect at the beginning of next year, Matthew Yglesias points out that the lame duck session is the last chance for a grand bargain on taxes and spending.

“If Obama’s reelected, it would be totally irrational for Republicans to refuse to agree to his partial rescission of the Bush tax cuts at a time when the alternative is full expiration. If they can get Obama to agree to spending cuts in exchange for them agreeing to something that’s going to happen anyway, that’d be a huge win for them. And yet Obama has long seemed to have an Ahab-like obsession with grand bargaineering so might well agree to such a bargain—especially because it could avert the very short-term spending cuts involved in the budget sequester. But the window of opportunity for a deal like that is very narrow. Once the Bush tax cuts expire, there’s no more bargain to be made.”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including,,, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.