How Tea Party Absolutism Cost The GOP A Huge Win On Entitlements

Sahil Kapur – February 21, 2014, 6:00 AM EST

The GOP's long-held dream of slashing the retirement safety net faded this week.

Back in the summer of 2011, Republicans had it within their grasp. A dejected President Barack Obama placed the crown jewels of liberalism on the chopping block, offering Republicans hundreds of billions of dollars in cuts to Social Security and Medicare benefits.

House Speaker John Boehner wanted to seal the so-called grand bargain, and was willing to reciprocate with the $800 billion in new tax revenues that the president sought in return. Democratic leaders were grudgingly willing to support Obama on what they feared was a lopsided deal for conservatives.