Grand bargain (United States, 2011)

The Grand Bargain was an attempted political compromise between the Democratic and Republican Parties in the United States during the 2011 budget debates, in which the Democrats would have agreed to historic cuts in the federal government and the social safety net, in exchange for an increase in federal taxation. However, due to the rise of the so-called Tea Party, any increase in taxation was unpalatable to the Republican base, while President Obama's caucus panicked over the possibility of cuts, and as such the compromise failed.

Among "centrist" pundits, hopes for the Grand bargain lasted until the resignation of Speaker of the House John Boehner in 2015.