“Grand Bargain” mania set to sweep Washington again

“Grand Bargain” mania set to sweep Washington again

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If Barack Obama wins reelection, the question for liberals is whether he’ll rejoin his unfortunate crusade for a Grand Bargain. We came dangerously close in 2011, and the coming “fiscal cliff” threatens to bring us to the brink yet again. And Pete Peterson will be there, the minute the election ends, to help push Washington to Fix The Deficit.

Pete Peterson, as Ryan Grim reports, is at it again. He is throwing millions of dollars at yet another group — an impeccably bipartisan one, as always — devoted to selling both regular Americans and the political elite on the idea that our single most pressing national problem is the national debt.

Democrat Ed Rendell and Republican Judd Gregg are the co-chairs of “The Campaign to Fix the Debt,” run by Peterson’s Committee for a Responsible Federal Budget, a nonprofit also co-chaired by various moderate former members of Congress from both parties. Peterson has donated $5 million to the new campaign.