Posted on 06/27/2011 1:45:09 PM PDT by 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.
(Excerpt) Read more at news.yahoo.com ...
McCotter could propose it on “Red Eye” to see what happens.
Those who don’t learn from history are condemned to repeat it.
In 1990 the GOP, led by President Bush 41 fell for a deal very similar to this. The Dems were able to sit back and watch Republicans beat the hell out of each other, then were able to send in Clinton to administer the electoral coup de grace.
The GOP leadership NEEDS to stop thinking they are statesmen and start acting like politicians. CONSERVATIVE politicians. They need to understand that, for this purpose, the Dems could care less about the economic impacts of raising taxes - they KNOW that if taxes are raised the GOP will lose a foundational issue and the GOP coalition will shatter. Which is the only way they get to stay in power.
Thanks for clearing up the time line. It looks like he might have gotten 65 minutes of actual work done between the hours of 8 am and 5 pm. Here's the official schedule from the White House:
This news would be refreshing for the markets.
O.K., so when and if those subsidies are ended, oil companies will simply pass on the lack of subsidy revenue to gas customers - therefore, we all will pay at the pump as well as continue to pay the same amount to the government as they are bound to find another way to spend the 'savings'.
I have seen this movie before. Each side will posture until the last possible minute and then cut a deal that pleases nobody. I already hear some Republicans saying that they may not be against some reform of the tax code. Translation: Wiping out some deductions to supposedly increase revenues. It’s coming......get ready.....learn to love it(sarcasm).
I vote to have a special tax on NFL players!
...and why not a movie “windfall” tax on celebrities?
One only has to look at where the report is coming from, its an attempt to make it look like the pubs are caving to BO. If the subsidy is taken away from big oil then the subsidy should be taken from ethanol producers and the farmers that grow corn for it.
KG, I wouldn’t be so sure of that.
Didn’t GHWB fall for similar con in 1991?...”read my lips...” and then whoops?!!!
the Oligarchy will have its way...
I wish I had your confidence. I wouldn't put anything past the RINOs. D.C and respect of the elites matter most to the RINOs.
The respect of "We the People" means nothing to the RINOcrats.
That is so sick.
If MY congressman, Tom Graves, votes for this budget deal, he is dead to me, vote-wise. Both of my RINO Senators are off my Christmas vote list. I suffer RINOs no more.
Excellent, I like the way you think!
I simply cannot see the House G.O.P. passing any kind of tax hikes.
If the GOP agree’s to this, they are over as a major party
Apparently they’ve learned nothing from “read my lips”
Correct...their main MO these days is to split the Tea Party away from the GOP leadership.
Worked with Foley, worked with Bush, worked somewhat with Boehner's budget deal (though more conservatives were onto what the Dems were doing).
If the GOP holds strong this time and defeats this current Dem MO the libs will be out of a main strategy for the foreseeable future.
great idea , good incentive to get off the public dole if you are taxed at a higher rate= or to simplify the whole deal= cut fed pay
Elections are coming and none of the republicans dare jeopardize in any way their seat by not negotiating with the dems.
Least wise, that's how it'll be played out during election cycle, “republicans put economy in jeopardy by hard-line stance”.
There all a bunch of weasels.
True...but look for re-definition of terms to take place to make it SEEM like some obscure phrase of the deal is a tax hike.
The army of Dem parsers will be all over the teevee to convince the Tea Party that their leaders "folded" when they actually didn't.
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