As President Obama is discovering, election, or more particularly reelection, can be a waning mandate. Yes, he won his top rate tax increases in January—but less because Republicans accepted the verdict of last November than that they feared the blame in November 2014 if they conspicuously shattered the credit-worthiness and economic stability of the United States. And now we are at a point where Obama himself suggests that the differences are just "too wide" to achieve a "grand bargain" on America's fiscal future. The president says he won't yield if the GOP position is "we can only do revenue if we gut Medicare ... Social Security ... or education."
How will Trump’s administration impact you? Learn more