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Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus
Reuters ^ | 11/29/2012

Posted on 11/30/2012 1:35:04 AM PST by GVnana

(Reuters) - The Obama administration's opening bid on Thursday in negotiations to avert a year-end fiscal crunch included a demand for new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling, a Republican congressional aide said.

The proposal, made by Treasury Secretary Timothy Geithner to congressional Republican leaders on Capitol Hill, was seen as offering little the Republicans could agree to and was greeted with laughter, the aide said.

"We can't move any closer to them because they're not even on our planet," the aide said. "It was not a serious proposal."


In the maiden bargaining session, Geithner, the president's lead negotiator, proposed raising tax revenues by $1.6 trillion, congressional aides confirmed. That figure is in line with what Obama has said is necessary to achieve long-term deficit reduction of $4 trillion over 10 years.

The administration also sought at least $50 billion in new economic stimulus spending.

Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterally

(Excerpt) Read more at ...

TOPICS: Front Page News; Government; News/Current Events
KEYWORDS: 2012; bankrupt; cliff; debt; economy; fiscalcliff; obama; spending
Let's see:

1.6 trillion in new taxes.
$50 billion in "stimulus" spending
And Obama wants the power to unilaterally raise the debt ceiling.

What could be wrong?

1 posted on 11/30/2012 1:35:17 AM PST by GVnana
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To: GVnana

At some point in time the Republicans will learn that at least 45% of the people are always going to blame the Republicans no matter what and you can’t deal with those who are insane. The best thing for the country right now is simply to allow the tax cuts to expire, don’t raise the debt ceiling and stop any new spending. Whether the Republicans will have the guts to do that remains to be seen.

BTW-This is all a sham. Taxes are going to go up on everyone anyway simply because the Democrats refuse to cut spending.

2 posted on 11/30/2012 1:50:26 AM PST by HarleyD
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To: GVnana

Man, Paraguay starts looking better and better every day.

3 posted on 11/30/2012 1:53:49 AM PST by pepsionice
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To: GVnana

Yes, all ideas-except giving someone like Obama the keys to the debt limit-that have worked so well in the past.

4 posted on 11/30/2012 2:17:23 AM PST by John W (Viva Cristo Rey!)
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To: GVnana
Step 1 - Let the fiscal cliff occur - Obama would not seriously/sincerely address the problems.

Step 2 - Warn that Obama intransigence will cause a recession

Step 3 - Give Obama a 3 month debt ceiling raise and warn that a budget must be agreed upon to justify any further increases in ceiling. Be prepared to stand firm... without a budget that limits government spending (bylaw) Obama will spend us into oblivion.

5 posted on 11/30/2012 3:10:43 AM PST by RedEyeJack
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To: RedEyeJack

Now is the time to stand firm, no raise in the debt ceiling, cut spending.

6 posted on 11/30/2012 3:20:44 AM PST by Son House (Romney Plan: Cap Spending At 20 Percent Of GDP.)
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To: GVnana

Good. Let it fail. I hate this country anymore.

7 posted on 11/30/2012 3:43:48 AM PST by chewie45706
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To: GVnana

apparently the narcissist-in-chief thinks he’s gonna get to start term 2 the same way he started term one... With a TRILLION dollar debt celing hike and another “stimulus” (and in 2009-10 it was another $1.5 TRILLION between TARP all spent on your watch, and PORKULOUS)

then there was that obamacare thing....

Sorry, son, the adults are not going to increase your credit card again after what you showed them the past 4 years. Maybe you need to get a second job, aside from campaigning and community organizing. Maybe... being the president?

8 posted on 11/30/2012 4:05:03 AM PST by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: GVnana

As an American, I find this bull**** from the Obama regime offensive and repulsive. KMA Obama! Turbo Tax Timmy can stand in line and wait his turn.

9 posted on 11/30/2012 4:38:03 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
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To: chewie45706
"Good. Let it fail. I hate this country anymore."

Welcome aboard Free Republic!


Since 11-30-2012.

10 posted on 11/30/2012 5:03:31 AM PST by SnuffaBolshevik (In a tornado, even turkeys can fly.)
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To: GVnana; ding_dong_daddy_from_dumas; DoughtyOne; Gilbo_3; Impy; stephenjohnbanker; NFHale; ...

This is pretty smart of Dems to pull:

1) Bohner and McConnell havent offered a plan yet and they were they were demanding Os plan first, so O started out with this lib dream wish list which would totally humilate Rs if they had to pass it.

2) When Bohner caves to O and Pelosi as he did last year on the budget control act (Pelosi even voted for that) he will rather dishonesty tell his R members to get their votes :
“The deal I got is much better than that one O offered us before. It’s kind of like a tax cut not a tax increases”

11 posted on 11/30/2012 5:17:03 AM PST by sickoflibs (Has Bohner caved to Obama again yet?)
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To: GVnana
Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterally
Gee for a 'constitutional scholar' (end laughter), Obama sure is one dumb asshat. He seems to have forgotten about that Constitution thingy (again) and the part about all revenue bills originating in Congress (Article 1, Section 7, clause 1) and that Congress is responsible for paying of all Debts (Article 1, Section 8 clause 1).

And as SCOTUS has already ruled one branch of the gubmint cannot cede any of its constitutional duties to another branch -- even if it wants to. Ergo, you're S.O.L. king Barack.

[Revenue Bills 'should' originate in the House. But the Senate can also propose them.]

12 posted on 11/30/2012 5:58:54 AM PST by Condor51 (Si vis pacem, para bellum.)
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To: FlingWingFlyer

No Democrat wants to take responsibility for their own actions.

As then Spkr. Rep. Nancy Pelosi once said: “We have to pass Obama’care’ to see what is in it.”

And now Benghazi-Coward Obama’s Democrats are saying: ‘We have to go over Obama’s Fiscal Cliff to see how far we fall financially.’

13 posted on 11/30/2012 5:59:26 AM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: GVnana


This made me curse like you cannot imagine.
I’ve cursed more in the past 4 years than all my other years combined.
No lie!

14 posted on 11/30/2012 7:39:16 AM PST by a real Sheila (R.I.P AMERICA 1776 - 2012)
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