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Cantor Pulls Out of Biden-Led Budget
Wall Street Journal ^

Posted on 06/23/2011 7:40:40 AM PDT by Sub-Driver

Cantor Pulls Out of Biden-Led Budget By JANET HOOK And COREY BOLES

WASHINGTON—House Majority Leader Eric Cantor Thursday said he was pulling out of the bipartisan budget talks headed by Vice President Joe Biden for now because the group has reached an impasse over taxes that only President Barack Obama and Speaker John Boehner (R., Ohio) could resolve.

Mr. Cantor, in an interview after a negotiating session he described as bitterly contentious, said he would not be attending today's scheduled meeting of the bipartisan deficit-reduction leadership group because he believed it was time for the negotiations to move to a higher level.

"We've reached the point where the dynamic needs to change,'' Mr. Cantor said. "It is up to the president to come in and talk to the speaker. We've reached the end of this phase. Now is the time for these talks to go into abeyance."

Still, Mr. Cantor remained optimistic about the prospects for a deal. He said the Biden group had already made significant progress and had tentatively identified more than $2 trillion in spending cuts over the next 10 years. But he said there could be no agreement on an overall package without breaking the impasse between Republicans' refusal to accept any tax increase, and Democrats insistence that some tax hikes be part of the deal.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Breaking News; Business/Economy; Front Page News; Politics/Elections
KEYWORDS: biden; breaking; budget; cantor; debtceiling; debtlimit; inflation; obama; palin
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1 posted on 06/23/2011 7:40:41 AM PDT by Sub-Driver
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To: Sub-Driver

WOW, did someone FINALLY find thier Testicles?!


2 posted on 06/23/2011 7:41:56 AM PDT by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
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To: US Navy Vet

Nope , Boehner will give away the house with his negotiations with Obama just like in the budgets cuts he didn't get last time. Tax hikes are on the way! Just watch.


3 posted on 06/23/2011 7:43:41 AM PDT by RED SOUTH (Follow me on twitter @redsouth72)
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To: Sub-Driver

These people are most inept of the inept.

What is there to discuss about taxes? CUT THEM. No capital gains etc.

We could all be taxed at 100% and everyone living off the govt teet and we still wouldn’t eliminate the trillions in debt.

FUBO and these idiot RINOs.


4 posted on 06/23/2011 7:43:59 AM PDT by GRRRRR (He'll NEVER be my President, FUBO! Treason is the Reason! Impeach the Kenyan)
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To: RED SOUTH

It’s just a cryin’ shame.


5 posted on 06/23/2011 7:47:40 AM PDT by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
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To: Sub-Driver

>> after a negotiating session he described as bitterly contentious

That the negotiations are ‘contentious’ is a good sign.

I’m really frightened when the RINOs get all jolly and ‘collegial’ with that pack of ‘rats. Which, frankly, happens all too often.

They are not our friends, and this is WAR. They are out to destroy this country from within. NO QUARTER should be given them.


6 posted on 06/23/2011 7:48:23 AM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
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To: US Navy Vet

Apparently!!!


7 posted on 06/23/2011 7:49:30 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: Sub-Driver

$2 trillion over ten years is not even a start. It amounts to $200 billion a year on budgets that are approaching $4 trillion a year.


8 posted on 06/23/2011 7:49:42 AM PDT by kabar
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To: Sub-Driver

“...spending cuts over the next 10 years”

By the next 5 Houses Of Representatives.

Oh yeah that’s taking the bull by the horns LOL!


9 posted on 06/23/2011 7:50:59 AM PDT by mrsmith
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To: Sub-Driver
Prince Harry is talking about another stimulus package. Now theirs an idea. I mean after all the last one worked out so well. /s

Insanity: doing the same thing over and over again and expecting different results. Albert Einstein, (attributed) US (German-born) physicist (1879 - 1955)

10 posted on 06/23/2011 7:51:42 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: Sub-Driver

2 Trillion over ten years, my best guess would be the cuts would be scheduled to take effect, 9 years 11 months, and 3 weeks and 6 days from the date of the agreement.


11 posted on 06/23/2011 7:52:56 AM PDT by org.whodat
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To: US Navy Vet

The question is did he have them in the first place?


12 posted on 06/23/2011 7:53:06 AM PDT by bmwcyle
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To: MsLady

there’s not theirs ;)


13 posted on 06/23/2011 7:53:22 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: Sub-Driver

Another round of “Kick the can down the road” with the Dems wanting to lengthen the road and the Republicans wanting to use the other foot to kick.


14 posted on 06/23/2011 7:57:59 AM PDT by N. Theknow (What part of Election Day November 2010 didn't the GOP understand?)
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To: Nervous Tick
That the negotiations are ‘contentious’ is a good sign. I’m really frightened when the RINOs get all jolly and ‘collegial’ with that pack of ‘rats. Which, frankly, happens all too often. They are not our friends, and this is WAR. They are out to destroy this country from within. NO QUARTER should be given them.

What you said. It is indeed WAR. The survival of the Republic is at stake. That is why I could not support anyone who wants to play nice with the enemy (Huntsman, for example).

15 posted on 06/23/2011 7:58:39 AM PDT by Marathoner (Two terms for Obama: One in office, one in jail)
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To: RED SOUTH

r’s only control the house, just exactly how much leverage do they have?
the dems have convinced their supporters that this is still a liquidity crisis (Bill Maher still says the stimulus bill isn’t big enough!)
unless and until the r’s identify this crisis as the debt crisis it is, doesn’t matter what comes out of DC


16 posted on 06/23/2011 7:59:12 AM PDT by griswold3 (Character is destiny)
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Comment #17 Removed by Moderator

To: Sub-Driver

Folks, I mean, come on, did anyone with half a brain think that Moron, VP, Joe Biden would produce a budget plan. When POTUS Obama named Joe Biden to head and conclude the “budget” talks, that just showed how much disdain and contempt POTUS Obama has for America and all the American people.


18 posted on 06/23/2011 8:06:44 AM PDT by JLAGRAYFOX
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To: Sub-Driver

OK, OK, but there can be no negotiation that every nickle of the tax increase projection is used to pay down the debt. Period.... What good is it to get spending cuts coupled with tax increases that result in new spending.....

Its a shell game.... The rats have promised their lazy constituents a free ride for votes... That is the most corrupt, unAmerican manipulation of this Republic.

We will take 2 trillion spending cuts and a tax increase that projects another 4 trillion in revenue over the same time period and we will cut the budgets by 6 trillion over that period effectively lowering the National Debt by at least 4 trillion after interest....

This will put America on a sustainable path, then that must be coupled with a balanced budget amendment and a new law that redefines bribery to include politicians promising their constituents entitlements from the public trust.


19 posted on 06/23/2011 8:07:03 AM PDT by Typical_Whitey (Ask a liberal to explain how tax increases create jobs in America)
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To: Sub-Driver

What decisions need to be made?!? This is simple! Not a single, dang dime will be spent on ANYTHING unless Obama agrees with our financial plans! PERIOD! Anything else is simply stupid!

Does Boehner and the rest of the idiots up there really think that Obama has a drop of spit to argue with?

All they have to do is look at the financial mess this Administration has created and the complete facade of the TARP/stimulus crap and then DARE - ON TV - the President to shut-down the government!

PERIOD! We do it our way, or you Mr. President, will continue to take full blame for the current position in which we find our selves! Your spending is what has caused us to reach this ceiling at this date and time, so own it!


20 posted on 06/23/2011 8:07:54 AM PDT by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: kabar
$2 trillion over ten years is not even a start. It amounts to $200 billion a year on budgets that are approaching $4 trillion a year.

My thoughts exactly. When they use these 10 year "savings" numbers they never get around to telling you what the total cumulative spending will be over those 10 years. How much did Obama increase spending his first year - over a trillion, right? Now that is the new "baseline". $200 billion is pocket change.
21 posted on 06/23/2011 8:07:54 AM PDT by rockvillem
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To: GRRRRR

We need to cut 2 trillion every year!


22 posted on 06/23/2011 8:08:37 AM PDT by GlockThe Vote (The Obama Adminstration: The flash mob who won’t leave.)
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To: GRRRRR

We need to cut 2 trillion every year!


23 posted on 06/23/2011 8:08:52 AM PDT by GlockThe Vote (The Obama Adminstration: The flash mob who won’t leave.)
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To: Sub-Driver

Oh golly...they have identified $200 Billion in cuts a year.

The deficit runs $1,300 Billion each year.

I am underwhelmed by the efforts of Washington DC.


24 posted on 06/23/2011 8:08:55 AM PDT by Mr Rogers (Poor history is better than good fiction, and anything with lots of horses is better still)
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To: Sub-Driver

This isn’t a business plan. This is an escape plan.

-The New Boss, ‘Futurama’


25 posted on 06/23/2011 8:14:36 AM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: RED SOUTH

So correct! :((


26 posted on 06/23/2011 8:14:39 AM PDT by jennings2004 (Sarah Palin: "The bright light at the end of a very dark tunnel!")
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To: Sub-Driver
I suspect there's a little more here than meets the eye.

Any agreement that is reached MUST pass with at least 218 Republicans votign for it..otherwise the Hosue leadership will have agreed to, and passed, a bill ONLY because of Dem support. No way this happens.

Either Cantor and Boehner are workign hand-in-glove..using this to force Obama out into the open...or, OR..Cantor is planning to be the next Speaker faily soon..

27 posted on 06/23/2011 8:15:47 AM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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To: org.whodat

A little pessimistic today, huh?


28 posted on 06/23/2011 8:16:11 AM PDT by jennings2004 (Sarah Palin: "The bright light at the end of a very dark tunnel!")
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To: Sub-Driver

What business does the GOP even have in participating in a Biden led budget. They control the house. The GOP is just a shill for more of the same old thing. They proved it when they passed the last Obama budget with no real reductions.


29 posted on 06/23/2011 8:17:20 AM PDT by Revel
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To: griswold3

Uuuuhh, the last time I heard, all appropriation bills must originate in the House....that sounds like a lot of leverage to me...just that the leadership, collectively, doesn’t know how to do anything but play golf with Dear Leader...yuck!


30 posted on 06/23/2011 8:18:31 AM PDT by jennings2004 (Sarah Palin: "The bright light at the end of a very dark tunnel!")
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To: Sub-Driver

Good. He’s calling for the pres-ent and Speaker to resolve. Obama can’t tap dance his way around any more. HOLD HIS FEET TO THE FIRE. If he won’t play, screw it, the time for these games is long past due.

Now, Republicans, especially the candidates, need to get on top of and control the message. Get it out there early and often, this is where we stand and fight.


31 posted on 06/23/2011 8:19:06 AM PDT by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
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To: Oldyungun

If they invited Cheney along...LOL!


32 posted on 06/23/2011 8:19:23 AM PDT by jennings2004 (Sarah Palin: "The bright light at the end of a very dark tunnel!")
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To: Sub-Driver

Biden is driving this bus and it is pretty clear where he is driving it.

-Troop drawdown in Afghanistan
-Nation Building at Home instead
-More Stimulus!!!
-Blame Republicans for wanting to deliberately sabotage the economy to destroy Obama when they do not get it.

Any of ‘em who stick around for that act are damned fools.


33 posted on 06/23/2011 8:20:23 AM PDT by Buckeye McFrog
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To: Sub-Driver

It is embarrassing watching the disingenuousness and ridiculous dance being played out in Washington. To pretend there are choices is lunacy. The country is broke and getting broker. The country is in an upward debt death spiral and it is going to keep going up. We are in a depression. Real unemployment is about 20%—very nearly the same as the Great Depression.

Obviously raising taxes will only take more money out tax payers pockets. But by God, the Washington elite will continue to get theirs. For Cantor to claim the demrats offer of cutting $3 trillion in spending over the next ten years is a big deal is way beyond nonsense. And I don’t expect the wuss Boehner to just say no to more spending or yes to meaningful tax cuts.

I think it’s time for the Tea Party’s to start rumbling again. These Washington idiots actually think they can fool us again. Shame on us if we let it happen. Time to get in their faces again.


34 posted on 06/23/2011 8:20:32 AM PDT by dools0007world
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To: Buckeye McFrog

The so-called troop draw-down in Afghanistan is a joke. Obama will not even remove his new surge until next year and that will probably be revised.


35 posted on 06/23/2011 8:22:54 AM PDT by Captain Kirk
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To: ExTxMarine

Absolutely right. Here’s the budget Mr. President, if you don’t like it, come up with one. The crap stops nopw, we’ve wasted 18 months waiting for them to come up with one...Shut it down. Yes, that is an ultimatum...long overdue.


36 posted on 06/23/2011 8:23:57 AM PDT by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
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To: RED SOUTH

The house is not voting for tax hikes imho


37 posted on 06/23/2011 8:27:49 AM PDT by italianquaker (the Western faculty lounge attitude, which is the sewer that Obama has been marinated in,)
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To: kabar

Cut $2 trillion in 3 years nd then we can start being serious. Meanwhile, the RATs are calling for MORE spending. Would someone, anyone please smack the idiots in the head? Either that or have them committed as criminally insane.


38 posted on 06/23/2011 8:29:04 AM PDT by NTHockey (Rules of engagement #1: Take no prisoners)
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To: RED SOUTH
You are onto something there!!! No immediate spending cuts will happen and the debt ceiling will HAVE to be raised, and the 2012 budget will go nowhere until the GOP and the RATS get together and agree on one huge Omnibus bill after the start of FY2012.
39 posted on 06/23/2011 8:29:21 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: kabar
$2 trillion over ten years is not even a start. It amounts to $200 billion a year on budgets that are approaching $4 trillion a year.

Correct. It's like peeing in the ocean.

40 posted on 06/23/2011 8:30:36 AM PDT by b4its2late ("Pray for Obama. Psalm 109:8")
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To: Sub-Driver

I don’t know about everyone else, but I AM IN FAVOR OF A TAX INCREASE.

The 47% or so that are currently paying NO federal tax should be required to PAY something starting with the first dollar earned. I’m sick of people that have no skin in the game voting for people that will take from the producers and give it to the freeloaders.


41 posted on 06/23/2011 8:32:18 AM PDT by Bob Buchholz
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To: b4its2late

No. It is a start. If we can cut two tillion in advance of a vote on the budget, that will be progress. It will then be up to the Senate to approve the House budget or face the music in 2112.


42 posted on 06/23/2011 8:37:36 AM PDT by Melchior
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To: Melchior
No. It is a start. If we can cut two tillion in advance of a vote on the budget, that will be progress. It will then be up to the Senate to approve the House budget or face the music in 2112.

The "X amount over X years" BS is exactly that. Cut now and deep. Enough of the bait and switch.

43 posted on 06/23/2011 8:44:03 AM PDT by frogjerk (Liberalism: The ideology of envy.)
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To: Cheerio
No immediate spending cuts will happen and the debt ceiling will HAVE to be raised, and the 2012 budget will go nowhere until the GOP and the RATS get together and agree on one huge Omnibus bill after the start of FY2012.

KARNAK: "What is business as usual?"

44 posted on 06/23/2011 8:46:55 AM PDT by frogjerk (Liberalism: The ideology of envy.)
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To: RED SOUTH

Yup

The Democrats and Republicans REALLY don`t care about the USA,

they CARE about power and getting re-elected, PERIOD.


45 posted on 06/23/2011 8:48:41 AM PDT by Para-Ord.45
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To: Sub-Driver
Good! Cantor is walking away from the trap. Whatever gets negotiated the Lame Stream Media will proclaim a win for Obama even if the Rats cut Medicare Benefits and Cantor knows this.
46 posted on 06/23/2011 8:49:34 AM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: ken5050

“Either Cantor and Boehner are workign hand-in-glove..using this to force Obama out into the open...or, OR..Cantor is planning to be the next Speaker faily soon..”

Cantor is up for re-election next year. Here in Virginia we know his RINO ways.
This is possibly a stunt to look strong.


47 posted on 06/23/2011 8:50:47 AM PDT by nandrew
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To: Sub-Driver

This is a good move by Cantor. He’s trying to draw attention to Great Leader’s hands-off approach to being presidential. Obama has been phoning it in for too long. He gives great speech, something his supporters eat like candy. But there is always someone else doing the work for the democrats.


48 posted on 06/23/2011 8:51:51 AM PDT by AD from SpringBay (We deserve the government we allow.)
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To: Sub-Driver

($1.5 trillion yearly deficit x 10 years) - $2 trillion = $13 trillion dollar additional budget deficit in 10 years.

We are hosed...


49 posted on 06/23/2011 8:56:15 AM PDT by avacado
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To: Sub-Driver
Mister Wimp finds his cojones...

... for now.

50 posted on 06/23/2011 8:56:15 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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