Boehner cowers in the corner.
Boehner has offered to raise the top tax rate for earners making more than $1 million, a source told the Associated Press.
The development in the fiscal talks comes amid pessimism the Speaker and President Obama can hammer out a deal before Christmas.
Boehner’s offer would not include extending federal unemployment benefits, and it is unclear how it would address sequestration — the tens of billions in spending cuts scheduled to go into effect for the Pentagon and other federal agencies starting Jan. 2.
And Republicans remain unyielding on agreeing to raise the U.S. debt limit as part of any agreement to avoid the fiscal cliff.
The source said Obama has not accepted the offer, according to the Associated Press, which added that Boehner is still seeking more spending cuts than Obama has proposed.
Bottom line… no deal. The clock is running out, assuming it’s not already too late. Even if they came to some sort of deal – even a short term, stop gap measure – the two men would still have to sell the plan to their respective parties, somebody would have to draw up the matching bills, and then herd enough cats into the chambers to actually vote for it. Tomorrow morning will come with only two weeks left to accomplish all of that, and the two sides still don’t even have the basic framework of a deal… just an offer which was immediately turned down by the President.
Send him a box of depends.
Boehner caves on taxes - who didn't see that coming? EVERY F***** TIME THIS FARCE PLAYS OUT THE SAME. Democrats demand tax hikes and the Republican demand spending cuts. And EVERY TIME we get IMMEDIATE Tax hikes and a false promise of spending cuts in the future - cut that NEVER materialize