President Obama’s new ‘grand bargain’

The un­veil­ing of Pres­id­ent Obama’s new “grand bar­gain,” which part­ners tax code re­form with in­fra­struc­ture spend­ing marks the end of failed talks between Obama and Re­pub­lic­ans that were aimed at re­du­cing the gov­ern­ment’s long-term de­fi­cit by com­bin­ing lower spend­ing on Medi­care and So­cial Se­cur­ity with some tax in­creases.