Skip to comments.Mitch McConnell: $4T Deficit-Reduction Deal Likely Off the Table
Posted on 07/10/2011 7:12:58 AM PDT by SeekAndFind
Senate Republican Leader Mitch McConnell told Fox News that he thinks a major deficit-reduction deal cutting $4 trillion over the next decade is off the table, claiming Democrats are pushing too hard for tax increases.
"Everything they've told me and the speaker is that to get a big package would require big tax increases in the middle of the economic situation," McConnell told "Fox News Sunday." He called the prospect of tax hikes a "terrible idea." The Senate GOP leader is the latest to weigh in on the rollercoaster negotiations that are set to continue Sunday evening at the White House. That summit is taking on fresh urgency after House Speaker John Boehner announced he was lowering expectations about the size of the deficit-reduction package that can be achieved over concerns about the rift between the two parties.
Boehner announced Saturday that he wants to focus on a package more in line with what was being discussed in earlier negotiations led by Vice President Biden. Those talks centered on about $2 trillion in deficit reduction over the next decade. The White House in recent days had raised the bar to about $4 trillion, but Boehner dialed things back following a conversation with President Obama Saturday evening. McConnell backed Boehner on Sunday.
(Excerpt) Read more at foxnews.com ...
Would someone please explain what is going on?
Close a loophole = tax increase. Dems win
Put entitlements on the table = kill seniors. Dems win
I would let the dems set the table and the republicans roll back all the EPA and Banking regulations put in place since 2006.
Force the rats to say no to environmental policies killing the country.
Mark Levin is right a bad deal is worse than no deal.
Lets be clear here. This Congress cant bind future Congresses or presidents to a debt reduction deal. Any talk of spending now and reducing spending later is pure hog wash. The future reduction wont happen or future spending will be increased on new sacred cows.
The have to deal with this problem one year at a time. Write a balanced budget for THIS year!
If you can draw Mitch McConnell, aka Tippy, you can earn your way into art school.
The short version is this:
The republicans are folding faster than the bellows on Myron Floren's accordion.
Doesn’t sound like it to me.
It’s about how ALL politicians handle decisions...sidestep!!!
boner all cares about what wall street wants, now you little voters in flyover land set down SFU.
If this is really true...both OBoner and OMcConnell are SAD POS’s!
What is going on is that a tax increase, or a spending cut, will take money out of the economy and increase unemployment. It will immediately lower GDP.
In other words, it’s over. There Is No Answer.
They will now reduce all the goals and probably back load them. 2T over 10 years looks like 200 billion/year at first glance, but that won’t be how it is laid out. They will back load it, again with the absurd thought that “the economy will be better later and we can do the cuts then”. So they’ll propose 20 Billion in FY2012 and promise to do more later, and they won’t, or they will but lower tax revenue in the future from worse economy will make it meaningless.
It won’t matter who controls Congress or the Presidency. It’s inevitable devastation. If they endure it now, people will die. If they endure it later, more people will die.
I’m still trying to understand;
why do we have to have a debt ceiling increase and
why do we have to put cuts ten years out - everyone knows they won’t happen.
They have to deal with this problem one year at a time. Write a balanced budget for THIS year!
Exactly!!! Future Congresses will not be bound by these lies!!
This 2 trillion, over 10 years, is the biggest pile of BS they've produced this month and they've been trucking the BS big time.
Snookered, by Nazi Socialists.
Why isn’t Obama being held accountable for the generous treatment of General Electric as a PR/hypocrisy point?
I say this to both McConnell & Boehner. Give Obama and the Democrat Party zilch, nothing, zero, etc., other then cuts, caps & balanced budget amendments. No taxes whatsoever, except an overhaul of the entire tax system changing to a Flat/Fair tax system, wherein every worker, company and labor union, the rich and poor from top to bottom will pay a fixed set amount with no deductions allowed. Then layoff about 600,000 IRS workers, and shutdown the USPostal Service, turning it over to FedEx, UPS, DHL, etc. Put Obama and his destroy America Democrat Party on notice this evening, that this is a concrete, unmovable, line in the sand. Doing less, listening to the MSM and spinners is past. If no deal can be reached, walk away from the table and let the government default (It won’t). Anything less, McConnell/Boehner and the Republican Party ceases to exist as a major political party, and...you two buffoons and traitors go down with it!!!
It’s apparent there will be an increase of the ceiling. If it’s more than $1trillion, Obama skates through the next election without debt/defecits being an election issue. Under a trillion will take us to next spring where it will be THE issue. Will give republicans 9 months to grow some balls. Ha, sure.
How is it that Pelosi and Reid could bind future Congresses to spending $1.5 billion this year on ObamaCare, before it kicks in? Can they only bind future Congresses to spend but not cut?
If this is so, we’d be much better off with no federal government. Belgium hasn’t had a national government for a year and a half and seems to be surviving just fine. Are we that much more inept to govern our states than Belgium?
The Republican Panty (no typo) is caving.
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