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 ...
Asian markets opening, Sun rising, ok, big deal
It’s all fun and games until your masters in the financial markets tell you to shut up and cut a deal.
“grand bargain”. What a bunch of B.S.
>> Asian markets opening
SCREW the damned asian markets. Our future as a free, sovereign nation hangs in the balance. Stick to the knitting here at home.
“No deal” is infinitely preferable to a “bad deal”.
Not gonna jump on this...considering the source.
It seems they have made a mistake by keeping him this long (or ever electing him Speaker).
The battle is between the people who want to steal our earnings and those who don’t want their earnings stolen...
Boenher and McConnell need to GO and soon.
bump.
Boehner should REFUSE to deal with the administration. He would be hailed as a hero.
If Boehner blows it, he goes.
Period.
Just beacuse Boner and Obummer cut a deal that doesn’t mean the House will go along with it. Hold the line and stick to your principles.
I wonder which one of these guys called Erickson?
Its "[crap]" (unnamed Conrgressman: Boehner is getting nervous)
If they want $800 billion in additional tax revenue, give businesses an incentive to create jobs (IE tax payers) here. Stop driving jobs out of the country by making it too expensive to hire here.
That goes for the UAW, too.
a deal with some $3 trillion in spending cuts and $800 billion in additional tax revenueIn exchange, no increase in the debt ceiling? Is that what's being suggested?
yes
Boehner already blew it when he failed to get behind cut,cap,balance and failed to present it as the Republican’s final offer.
He’s has already sold out, we’re already screwed.
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