Congress averted the fiscal cliff's consequences, but the fight revealed some serious challenges in Washington.
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Five things we learned from the fiscal cliff debate
Congress averted the fiscal cliff's consequences, but the fight revealed some serious challenges in Washington.
Storified by Digital First Media · Wed, Jan 02 2013 06:22:48
Congress has narrowly averted the consequences of the fiscal cliff on Tuesday night. But in the months-long ordeal that took place, it revealed some serious challenges in Washington. Here's a closer look at what we've learned.
Obama wants to deal
Denverpost
What happened: As early as 2007, Barack Obama argued that the Bush-era tax cuts should be repealed for couples making above $250,000 a year. In 2010, he agreed to a two-year extension. The final deal approved Tuesday night repealed tax cuts for those making $450,000 a year.
What it means: The president wants a deal. Obama could have held to the $250,000 threshold, letting Republicans vote against him and take the blame, but he traded it because he wanted a compromise.
Boehner is a weak speaker
Denverpost
What happened: Speaker John Boehner walked away from negotiations with the White House, announced his Plan B to repeal tax cuts for those making more than $1 million a year, then
canceled a vote when it became clear it couldn't pass either. A majority of Republicans, including Boehner's top lieutenants,
voted against the final deal .
Topic A is spending
Denverpost
Public opinion does not matter
Denverpost
What it means: Mandates don't matter. There was a lot of talk after the election about whether Obama or House Republicans had a mandate, but ultimately public opinion is not able to budge the gridlock.
It's going to be an interesting year
Denverpost
What happened: President Obama wants a deal. The leader of the House Republicans is unable to pass one. Congress remains fixed on debating spending, the one issue where the two parties are the farthest apart. And public opinion is not enough to break the stalemate. Oh, and Boehner said
something pretty raw to Senate Majority Leader Harry Reid.
What it means: Get ready for a wild ride.