"And I'll tell the peasants that we had to agree to a deal before the Asian Markets open on Monday morning..."
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 ...
Bonehead wants a deal so bad, even a bad deal.
It’s no wonder. Debt increase now, spending cuts that are NEVER enacted. We have been down this road before.
Boehner should simply raise the limit , offset it w 2 x the amount in cuts, hand it off to MaoBama and Reid and be done w it.
ABC? I believe NONE of this and won’t until I hear it from Boehner. he is/was on FNC and gave NO INDICATION of allowing any tax increases.
Boehner should tread lightly here. Not only will this cost him his speakership, he will lose his job as well.
I remember well Mike Dewine’s son Pat ran for congress in Ohio.
He had all the money, all the DC endorsements, the name recoginition.
He was supposed to be a shoe-in.
Guess what. Ohio voters rejected him. Pat Dewine can in 4th in the GOP Primary.
So all the campaign chest, all the DC endosements did not save him.
If I were Bonehead, I would pay close attention.
It appears now, that he will work around conservatives.
Liar.
Maybe you forgot to listen to Boehner on Fox News this AM.
2012 cannot get here fast enough.
It seems they have made a mistake by keeping him this long (or ever electing him Speaker).
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There is a serious problem in carrying over the leadership which presided over defensive or even passive minority status, and expecting them to perform aggressively and forcefully when the initiative is of right on their side. By then, they have something like Stockholm Syndrome, and have become accustomed and acculturated to defeat, evasion and maneuver - and even acquiescence. Just because they learned to push a broom and a scooper at the end of the parade does not mean they know how to ride in the triumphal chariot at the front of it, no matter how many parades they have been in.
Imagine Representative Allen West as Speaker rather then Boehner. To kill the Statist Beast that faces us today, we need leaders who will slash the beast’s jugular, not diddle its capillaries.
Majority leaders should be Alpha Wolves, not greeting card puppies.
Got that right. Or make him more afraid of the people than the check pants GOP corporate hacks.
After this is all over, Boehner has promised himself a good long cry.
what was this sudden reference to “the asian markets” opening?
since when do we care?
A. The story is more or less bogus
B. The tax revenues are the number that has been on the table for weeks. It is not a tax increase. It is presumed tax revenue increase from economic growth. Not a single rate would be changed. It presumes unemployment drops, more people work, more tax revenue comes into the govt. Not a tax increase at all, and the House GOP members would not oppose this.
The story is bogus.
It’s also wrong. The two step approach is now the choice, and It Will Pass The Senate. Small ceiling increase with spending cuts in excess of the amount of that increase, with a commitment for tax reform steps later this year that generate no increase in rates, and may lose a bipartisan vote.
It’ll be the GOP’s Waterloo.
It is a TAX INCREASE.
Boner told Obama he would let the Bush tax cuts expire for high income families and individuals to the $800M in revenue as part of the deal.
Boner’s treachery was revealed by Cantor and now Boner is resorting to secret deals through intermediaries (Mitch McConnell) to bring back the TAX INCREASE.
Oh Heaven forfend!
Not really about those markets, its about the US markets Monday.
Thought it had been established elsewhere that the original $800 billion in revenues wasn’t straight tax increases?
$800B Tax INCREASE by letting the Bush Tax cut expire for higher-income families.
Boehner is not a civil servant. He is an insecure, small-minded fraud obsessed with his position and its aggrandizements.
The media spin and innuendo attacks are at a fever pitch this morning. We can only make sure that our representatives know where we stand and keep the money spigot turned off until they see our point.
We need to be careful not to overreact to the crap being published by people who are making up as they go along.
Bring Cut Cap and Balance Bill back off the table and vote on it...OR WELCOME THE DEFAULT.
Boehner need not fear the deafult, it is noit the destruction of the full faith and credit if the US government. THAT IS A LIE....a false crisis invoked by Obama.A GRIFT.
It is a false crisis. So our T Bill rating will go from AAA to AA. So what? Japan has been operating successfully for years with an AA rating.
If Obama raises taxes it will be tough times between now and Novemebr of 2012 anyay, likely tougher than if we default.America is ready to run the default gauntlet just to get to the sunshine on the other side AND BE RID OF OBAMA. And getting rid of Obama will be much harder if we allow him funding as he wants.
CUT CAP AND BALANCE, OR DEFAULT. DO IT BOEHNER.KEEP YOUR PATRIOT SPINE!!!!
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