Bowles - Simpson or some other iteration of Obama Boehner Grand Bargain I believe was designed to put country on glidepath to
sustainable fiscal health over time (not to create jobs, per se).
Ken Moelis (former president UBS investment bank):
Uncertain environment for M&A (inflationary or deflationary ultimate outcome in Europe), speculation of
Obama $4 trillion entitlement cut middle of next year (with
no tax increases at that point!):
http://video.cnbc.com/gallery/?video=3000060748 (actual Obama grand bargain speculation start around 4:20 mark, but whole video clip is worth watching)
Basically, it said from political point of view, Obama couldn't agree to Grand Bargain last summer because it was too far from election and would open him up to primary challenger like what happened to H. W. Bush when he cut a deal too early.
Given that economy is slowly improving now, and Obama appears to be pulling away in electoral college, Republicans now get nothing, instead of something (temporary extension of all Bush tax cuts) because of their rigid obstructionism and rabid idealogy.