President Obama won re-election by a wide margin in the electoral college. He won the popular vote by a relatively narrow margin.

Despite a grueling campaign, Obama's celebration was short-lived. He has a limited amount of time to hammer out a new 'grand bargain' on the fiscal cliff when the lame-duck Congress reconvenes on Tuesday.

Republican Strategist Jack Burkman and Democratic Strategist Richard Fowler discussed the week in politics on Capital Insider.