Losing the fig leaf
Support from CAP was critical to âgrand bargainâ credibility, so itâs great news that theyâre walking away:
WASHINGTON â The Center for American Progress, a pillar of the Democratic establishment in Washington is walking away from the broad negotiations aimed at reaching a âgrand bargain,â the pursuit of a deficit-reduction deal that has dominated the political agenda since mid-2010.
The idea of a grand bargain had little backing from organized labor and the progressive flank to begin with, but maintained institutional support from establishment forces in the party. CAPâs exit from the stage sends a powerful signal to the White House, leaving the president to craft a deal largely on his own, should he continue to pursue it.
The move has been in the works for some time, say senior CAP officials, and emerged publicly WednesdayÂ in the form of a reportÂ by Michael Linden, the centerâs managing director for economic policy.
âItâs time we reset economic policy in Washington to focus on growth instead of deficit reduction,â CAP President Neera Tanden told HuffPost.
Via Karin Porter.