Republicans and Democrats alike sounded some encouraging notes on potential bipartisan cooperation in the wake of last week’s election, including the possibility of tax reform and less fiscal brinksmanship.
Some areas of disagreement and conflict, of course, have been reviewed in recent days as well. But everyone should keep in mind that the country remains on an unsustainable fiscal course — even if a strengthening economy and short-term declines in the deficit seem to offer some breathing room.
Republicans and Democrats alike sounded some encouraging notes on potential bipartisan cooperation in the wake of last week’s election, including the possibility of tax reform and less fiscal brinksmanship.
Some areas of disagreement and conflict, of course, have been reviewed in recent days as well. But everyone should keep in mind that the country remains on an unsustainable fiscal course — even if a strengthening economy and short-term declines in the deficit seem to offer some breathing room.
And political cooperation is particularly important for efforts to put the country on a more responsible fiscal path. While Republicans won a Senate majority and picked up additional House seats last week, neither party will be able to force through its own agenda anytime soon.
In addition, the necessary reform measures will be difficult and — unless there is bipartisan cooperation — will present too many opportunities for further demagoguery on issues like tax reform, the defense budget, the debt limit and changes in Social Security and Medicare.
If the political will is there, however, the next Congress can move forward.
The Concord Coalition is presenting a panel discussion this Friday on Capitol Hill entitled “Opportunities for Fiscal Reform in the Next Congress.” It will be open to the public.
