We have our answers on who will lead the country now that the 2012 election cycle is complete. President Barack Obama earned another term in office. The House of Representatives will continue to be led by Republicans, and the Senate remains in the hands of the Democrats. In other words, while a few faces changed, little changed in terms of overall power. While many may be salivating at the prospect of the coming changes in 2013, it is truthfully the next 45 days which are critical to the American economy. We need to deal with the fiscal cliff.
Looking for Leadership in the Lame Duck Session in 2012
Congress passed a dreadful bargain as a result of the debt-ceiling standoff in August 2012. The notion behind this poison-pill of a compromise is that the budget cuts would be so onerous for both sides that it would require further negotiation. It was a deal never meant to be actually executed, and yet rather than set a date for negotiations prior to the November elections, the Congress set the implementation dates for January 1st, 2013. This once again was an example of Congress abdicating its responsibility to govern – rather than do the work of The People both sides (in particular the right) hoped that the 2012 election results would improve their bargaining position.
Somehow in the unintelligible wisdom of the electorate, The People have sent the Congress back to work with about the same balance of power they had to begin with – perhaps slightly less Republican, and definitely less far-right Republican.
Passing Momentous Legislation in Lame Duck Session Has Precedent
Many of you will recall after the 2008 election which swept the Republicans from power in Congress and the Presidency we were still dealing with the financial crisis. The lame-duck Congress passed multiple pieces of bi-partisan legislation designed to begin the recovery efforts and shore up the many troubled industries.
History NEEDS to repeat itself in 2012. This lame-duck Congress needs to act quickly and responsibly to avoid doing further damage to the country by holding the economy hostage. Make a compromise on the budget. Eliminate the most egregious parts of the Bush tax cuts. Cut some spending from the sacred cows of each side. Do all of these things with an eye on the still nascent economy so we don’t crush out growth near term.
And do it yesterday already!