World

Blame Supercommittee’s Failure on the Income Gap: Peter Orszag

Nov. 23 (Bloomberg) -- The supercommittee’s failure to reach a substantial agreement this week is disappointing but unsurprising. The old model of politics, in which bipartisan agreement was the key to success, simply doesn’t work anymore. In the new model, there is almost no overlap in views across party lines, and government function requires either domination by one party (as was the case for much of President Barack Obama’s first two years in office) or more automatic decision-making (as I have suggested elsewhere).

To continue reading this article you must be a Bloomberg Professional Service Subscriber.