Hopes of a grand-bargain – to shave trillions of dollars off the deficit by cutting entitlement programs and raising revenue – are shattered. – Fiscal cliff deal increasingly unlikely
NOBODY SHOULD think this is the end of the maneuvering by President Obama and Democrats to “reform” entitlements. But at least for now, here’s to the shattered hopes of the Democratic Party establishment who thought cramming down an entitlement deal was a good idea.
As for the swirling headlines that there will be no fiscal scheme deal, I’ll believe that when the sequester cuts start rolling.
However, if President Obama and Congress can’t make a deal it will be because the ideas they’re putting on the table stink, starting with the Democratic Party notion that Social Security should be bargained to get the losers of the November election to deal on raises taxes.