Posted on 07/24/2011 6:57:43 AM PDT by kristinn
With the opening of Asian markets now hours away and talks between Congressional leaders at a stand-still, ABC News has learned of a new high-stakes turn in the debt ceiling drama.
I am told that Speaker Boehner and President Obama are once again having back-channel talks on a large-scale deficit reduction plan that would include cuts to entitlement programs and increases in tax revenues.
Boehner Obama are again negotiating a "grand bargain" address the debt crisis with deep spending cuts. Treasury Secretary Tim Geithner just confirmed this in his pre-taped interview on "This Week."
SNIP
It now looks like the original framework is back in play – a deal with some $3 trillion in spending cuts and $800 billion in additional tax revenue.
One source described the talks as Boehner and the President “footsie” because the talks are indirect...
SNIP
I am told that Eric Cantor, Kevin McCarthy and Jeb Hensarling (the 2, 3, and 4 GOP leaders in the House) have all made it clear to Boehner they will not accept a deal that increases tax revenues by $800 billion.
If Boehner strikes such a deal with the President, he could lose more than 100 Republican votes in the House. It could ultimately cost him his Speakership. But it may be the only possible way to both avoid default and address the underlying debt crisis.
SNIP
(Excerpt) Read more at blogs.abcnews.com ...
This is why there should be a stance of “No,no more meetings with you in secret. Glad to meet and talk and talk, but not in secret.Transparency.”
Eric Cantor, Kevin McCarthy and Jeb Hensarling should cut introduce a bill that requires Obama to pay the interest payments, Social Security, Medicare, and military pay and benefits out of current income. Any money left over Shall be allocated proportionally. Let Boehner and the Democrats be on record opposing paying Social Security, Medicare, and the military.
If he climbs in bed with the marxist punk then boehner deserves to LOSE his jobs.
Read this! It will make your blood boil:
http://www.freerepublic.com/focus/news/2753089/posts?page=67#67
1. The media has been putting out false reports during this whole debacle in an attempt to carry the water for this admin. I hold every reporrt not coming DIRECTLY from the house leadership suspect and thus not worthy of immediate reaction.
2. An $800 billion tax hike won't pass in the house. That's been made clear. And even if it did, I did hear senators paul and rubio talking filibuster to prevent tax hikes.
Boehner and cantor have held the line so far. Instead of sitting around waiting for them to cave, how bout we give them words of encouragement?
Not only would it cost him his job, but it really isn’t good for our country.
Obviously they are trying to avoid an increase in the cost of our borrowing for our debt. Fact is that if we raise the debt ceiling and don’t reduce spending we’ll get increased debt financing costs anyway.
The way you reduce this liability is to begin removing it.
Time for this generation of living people to get along without as many government goodies.
I’ll wait until I see the Speaker on Fox with Chris Wallace. Certainly need details on this 800 million and where it is coming from. If it is a restructuring if the tax code, that part I’m for. But I’m waiting to see what it does to 401K’s, mortgage interest deduction, Bush tax cuts, etc. If some of it occurs in the out years, i.e., after 0bama is out of office, it could be reworked/modifed with a more cooperative Congress.
I meant to ping you to my #84.
abc is a communist agent mostly...so is cnn...very transparent.
I knew that, but I was aiming for the triumph of hope over experience. I was hoping that Friday eve’s presser showed Boner with a titanium spine.
Forlorn hope.
That's just what we need...another incompetent level of government (complete with another level of highly-paid bureaucrats, I'm sure).
Oh HELL No!
The way I understand it, the $800B increase comes from taking away itemized deductions. In return, there would be lower marginal rates. More like the Bowles-Simpson plan.
I will take lower marginal rates any day as that means, I keep more of my earnings resulting from busting my butt even more.
AMEN !!!
IMO, nothing good ever comes out of the Senate.
I have read the some of the itemized deductions being taken away are home mortgage deductions and gifts to charity. Any word of what you have heard?
No, he didn't.
The $800M is a combination of so-called loophole closings and flatter (less progressive) tax rates which would cause more people to pay income taxes.
I'm not wild about it, but let's be accurate.
$800M = $800B
I have not read details of this specific $800B breakdown. Those details are missing from the press reports.
Republicans = Party of compromise.
Definition of Compromise:
You win a little...they lose a little. They win a little...you lose a little. Result is a big fat ZERO. That’s the way the Republicans like it. No loss and no gain means everyone is happy and has self-esteem. However, the citizens lose on every count.
True leaders NEVER COMPROMISE! They fight until they win...and the timid “go along to get along” Republicans sure as hell aren’t leaders.
Within the next few months many of us are going to have to make the tough choice to go with the GOP or independently support a new party. We may have to lose a battle to win a war...only if it’s not too late. We have certainly waited too long and continued to put our trust in the “lifers” and career politicians in our government. Term limits would have corrected the problem but the ones who would have the say on whether we had it or not, were the ones we were trying to get rid of in the first place.
Now, in our nation’s dying gasp, the Lifers and RINOs of the GOP are showing their true colors by lying on the ground, rolling over, and exposing their belly to the enemy while wetting the floor.
We just can’t stand by and watch. We have to do something drastic!
The shame of this is that Boehner and his henchmen WILL offer a bill that appeases the left, the world bankers, special interests and finally, “the Anointed One.”
We will see the GOP destroy itself within the next 48 hours because they didn’t have the stones to stand up to POLITICAL CORRECTNESS.
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