Could We Be Seeing the Start of Bipartisanship?

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It could be argued that the tax deal brokered between the White House and Republicans earlier this week hints at the start of bipartisan dealings to come in the new year. While there is plenty of criticism to go around, in particular by liberal Democrats, it seems clear that President Obama may be tweaking the way he deals with Republicans as well as those within his own party. This may be, at least in part, because of the mid-term election results in November and in preparation for the 2012 Presidential election.

While it is hard to ignore the related costs of the tax deal, these developments may be good for the country, the American people and our future. Included in the deal will be a mix of “tax-extenders” that will provide businesses with a degree of certainty regarding their tax liabilities going forward. Ideally, this will allow business plans to coalesce and hiring to accelerate.

The other side of the deal is the deficit. Congress and the White House will be forced to deal with the deficit and our national debt next year and beyond. This exercise will require excruciatingly difficult decisions and cuts on many levels. If we expect to see any real progress, there will have to be bipartisan negotiations and effort. When one party obtains everything it wants, the American people most often pay the highest price.

So I am hopeful that this deal is a sign of change and good things to come. We still have a mountain of work ahead but this may be a step in the right direction.

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