White House: 'Significant' debt deal possible (Dems propose $400-600 billion in new taxes)

YahooNews ^

[quesney]

WASHINGTON (AP) — The White House said Monday that a "significant" deal with Republicans on cutting government spending and raising the nation's debt limit is still possible, even as the administration hardened its stance on the need for increased tax revenue to be part of any agreement. President Barack Obama made his first direct foray into the deficit negotiations Monday. He met with Senate Majority Leader Harry Reid in the Oval Office for about 30 minutes Monday morning, and planned to meet with Republican Sen. Mitch McConnell in the early evening. White House spokesman Jay Carney said Obama's meeting with Reid was "constructive" and the president concluded that there are still opportunities for a deal to be reached. But he said the only way to achieve that objective would be to include tax increases or the elimination of tax breaks for big companies and wealthy individuals.

"It's the only way to get it done," Carney said. The White House has proposed raising about $600 billion in new tax revenue, including ending subsidies to oil and gas companies, an idea that failed in the Senate.

[StolarStorm]

Well, I'm not a plant so I guess I'm an idiot. I'm in favor of a flat tax that eliminates ALL deductions. Tax simplification will save a lot of money for everyone, even if the marginal rates end up slightly increasing revenues. I consider it a win win; start reducing the deficit with a combination of spending cuts and small tax increases where it makes sense.

But we can all just wish on a star and hope that the dems will do a complete turnaround and cut enough to save our country from financial ruin.

[Terry Mross]

Reid is one of the puppet masters.

[editor-surveyor]

Yep!

That’s the plan, use FDR’s blueprint.

[editor-surveyor]

We don’t need the dems to cut anything.

No spending can take place without the House caving in. We need only for the House Republicans to stand firm on no deficits.

We need representatives with courage, not big talkers that cave like Boehner, Bachmann, etc.

Stop the bleeding and the body will heal.

[AnAmericanAbroad]

Thanks for the pic (seriously). I’ve read about this leech before, but never seen a photo until now.

Ten to one he poops in his diapers, too.

Nothing a little electroconvulsive therapy won’t cure.

[Chode]

[zzeeman]

1) immediate repeal of Obamacare. Or 2) a balanced 2012 budget. Or 3) immediate defunding of EPA. Or 4) any combination of the 3.

I'd suggest: 5) All of 1 - 3.

I’m waiting for the GOP to prove me wrong, but they haven’t yet.

I'm waiting along with you.

[Michael Barnes]

Weepin’ Of Mass Destruction

Consider that stolen!! Truly priceless..

[Lucky9teen]

But both sides only seemed to harden their positions as the day wore on, the administration insisting on higher taxes as part of the package but Republican leaders flatly rejecting the idea.

Typical enemedia....with the misleading headline...

[Michael Barnes]

The way out is to repeal the congressional acts that created the spending. Now!

AMEN!!! Why do so many people think since an "agency" or "department" was created in the United States Government that it cannot be un-made by simply de-funding and getting rid of it?

Department of Education
Department of Energy
Environmental Protection Agency.

Three right there that are not needed for the continuation of the United States and could easily cover that 4-600Billion figure.

[RKBA Democrat]

I have faith that the gop will stick to their no tax pledge and refuse to raise taxes by $400-$600 billion as the dems propose.

No, the gop will dig in their heels at about a trillion in new taxes. And not one penny less. And it’ll be the fault of the wascally dems who “forced” them to go along.

[schu]

Well it has become obvious the negotiation strategy for the Bamster, make a deal with the Senate appearing reasonable and businesslike. Then isolate the House Repubs and back them into a corner. Make a “default” the responsibility of the House and “Tea Party” Repubs.

When the default day draws near expect the stock market to “crash” by a bunch and all the talking heads to vilify the Repubs intransigence.

This had been the plan for 6 months, Bam is going to try and win the election in the next 60 days. If they cave, the Repub base is lost, if they balk then the Repubs are causing the recovery to fade. It is all so predictable, do you trust the Repubs to stand their ground?

schu

[4Liberty]

[4Liberty]

[4Liberty]

[Tzimisce]

More taxes - what a shock.

You just can’t run a government with less than several trillion dollars anymore.

Once again, the little people get screwed in Obamaland....

[Tzimisce]

More taxes - what a shock.

You just can’t run a government with less than several trillion dollars anymore.

Once again, the little people get screwed in Obamaland....

[Tzimisce]

More taxes - what a shock.

You just can’t run a government with less than several trillion dollars anymore.

Once again, the little people get screwed in Obamaland....

[Tzimisce]

More taxes - what a shock.

You just can’t run a government with less than several trillion dollars anymore.

Once again, the little people get screwed in Obamaland....

[4Liberty]