He is now 12-over for 36 holes in the elite field, which is still led by the long-hitting JB Holmes.
There is no midway cut, so Lahiri will still have a chance to improve his position over the weekend.
Holmes added a 73 to his first round 62 and is now nine-under and is two clear of Ryan Moore (71).
Lahiri, making his debut at WGC-Cadillac, had one birdie, three bogeys and one double bogey on the course that is considered extremely tough. On the first day, the Indian had an eight-over 80.
Lipsky posted four birdies against five bogeys for a two-day total of three-over-par 147 to lie 12 strokes behind leader Holmes.
Thongchai Jaidee of Thailand had a similar card as Lipsky, shooting a 73 which was a seven-shot improvement from his disappointing 80 in the first round to a share of 66th position.
Australia's Adam Scott enjoyed a good day. His 68 saw him climb the board and end the second round alone in third place. Henrik Stenson of Sweden carded a solid 71 to go into the weekend tied for fourth with two-time Masters champion Bubba Watson.
He found the water twice in his opening three holes, once more on the back nine and he closed with a double bogey. He also found five birdies to post a score of 73.
Rory McIlroy's second round of 70 featured six birdies and four bogeys and at one-under he is in a tie for 11th place.
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