The deal approved today is truly a missed opportunity to do something big to reduce our long-term fiscal problems…”If you don’t stand broadly and shoulder the responsibilities of governing, there should be no surprise when the house of cards you’ve tried to build over the last two years comes crashing down around you. That’s what happened over New Year’s Day, when the Senate, and then the House, passed an overwhelmingly bipartisan bill that mitigated the effects of the final sunset (thank God) of the Bush tax cuts.
- from a statement released Tuesday, by Alan Simpson and Erskine Bowles, co-chairs of a bipartisan deficit reduction committee
As a solution to the so called “fiscal cliff,” the Senate version of a revamped House bill falls short of averting every slippery rock on the way to the economic edge, but it was the only lifeline of agreement left after Speaker of the House, John Boehner (R-OH), turned down the president’s offer of early December, refusing to take the same tack with his caucus that he essentially was forced to take Tuesday night. Since he dropped the ball the White House handed him, Boehner had to make do with the cold, meatless bone of a compromise worked out between Sen. Mitch McConnell (R-KY) and Vice President Joe Biden.
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