Though the fiscal cliff deal has many “small victories” for President Obama, the New York Times says the agreement “also represents a substantial risk for the president.”
“Throughout the negotiations of the last two months, Mr. Obama pushed for a larger agreement, one that would have canceled other looming budget deadlines, starting with one on the debt ceiling. He and his aides saw the so-called fiscal cliff, with its trillions of dollars in scheduled tax increases that Republicans abhorred, as leverage to start fresh in a second term and avoid more deadline-driven partisan fights.”
“When House Republicans made it clear that they opposed a big deal, however, Mr. Obama decided to take the smaller deal, bank a series of victories and wait to fight another day… Without that larger agreement, Mr. Obama will be left to find solutions to future budget deadlines without the leverage that came with the prospect of automatic tax increases.”
The Cloakroom: Why the fiscal cliff deal is a big win for Democrats.
