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November 04, 2011


McConnell Now Wants Grand Bargain

As the supercommittee charged with reducing the deficit works on a plan that both cuts at least $1.2 trillion over ten years and can pass Congress, recent shifts by Republican leadership may signal the return of the "grand bargain" that President Obama and House Speaker John Boehner (R-OH) had originally tried to negotiate.

Earlier reports indicate that Boehner has softened his line on tax increases in the final deal, while The Hill reports that Senate Minority Leader Mitch McConnell (R-KY) "has made an about-face in recent days and now favors a huge deficit-reduction deal."

"At the beginning of this week, Senate GOP and Democratic sources said McConnell appeared to favor a $1.2 trillion package out of the deficit-reduction supercommittee... A $4 trillion deal has gained more popularity in the Senate GOP conference this week as lawmakers have become convinced that Obama wants the deficit-reduction supercommittee to fail."














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