The United States and China have been searching for a new way to frame their relationship. President Barack Obama’s trip this week to Southeast Asia, the focus of much U.S-Chinese tension, reminds us that with new leadership now set in both countries, it is time for them to carry on with that important task.
The Great Debate
Republican leaders such as Grover Norquist and Senate Minority Leader Mitch McConnell (R-Ky.) continue to strike a hard line on taxes and revenues, “warning” President Barack Obama that the GOP will not negotiate or compromise when it comes to tax policy and deficit reduction.
Former GOP presidential nominee Mitt Romney said in a Wednesday conference call to donors that President Barack Obama won re-election because he promised “big gifts” to voters, “especially the African-American community, the Hispanic community and young people.” Romney singled out healthcare reform as a “huge” gift to these voting blocs and the working poor.
The election left us with a status quo political lineup, one that failed to make any meaningful fiscal progress over the past two years. So is it realistic to expect that we can avoid the fiscal cliff and achieve some sort of “grand bargain”? Yes, it is possible, and here is how to do it:
I buy none of the post-election, prime-time hokum that what decided the presidential race was the Latino vote, women’s issues, the next Supreme Court justices, the view from the fiscal cliff or how drones are winning the War on Terror. This presidential election was, as always, a contest between gold standardists and inflationists.
The conventional wisdom has arrived: 2012 was a status quo election. President Barack Obama was reelected. Democrats continue to have a majority in the Senate. Republicans still control the House. Only two states changed their presidential votes from 2008 to 2012 (North Carolina and Indiana). Six billion dollars were spent and almost nothing changed!
After the sound and the fury, the public disdain for government — particularly for Congress — the high stakes and looming fiscal disaster and $6 billion, we end up where we began — with Barack Obama in the White House, Democrats with a modest majority in the Senate, and Republicans retaining control of the House.
After a campaign in which climate change did not come up, and after the East Coast weathered a storm that, if it was not brought on by climate change, felt an awful lot like the storms that will be, the president of the United States finally nodded in its direction. It was not much. It was not even a whole sentence. But it felt like the first rain after a long drought. From Barack Obama’s victory speech:
As national attention focuses on the devastation inflicted on Atlantic states by megastorm Sandy, polls show the same basic electoral reality that has prevailed throughout the presidential campaign: Without a strong turnout among young voters, President Barack Obama loses on Nov. 6.