Skip to comments.White House Offers New Fiscal Plan, Prodding G.O.P.
Posted on 11/29/2012 3:03:40 PM PST by tobyhill
House Republicans said on Thursday that Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, an immediate new round of stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits.
The proposal, loaded with Democratic priorities and short on detailed spending cuts, was likely to meet strong Republican resistance. In exchange for locking in the $1.6 trillion in added revenues, President Obama embraced $400 billion in savings from Medicare and other entitlements, to be worked out next year, with no guarantees.
He did propose some upfront cuts in programs like farm price supports, but did not specify an amount or any details. And senior Republican aides familiar with the offer said those initial spending cuts might well be outnumbered by upfront spending increases, including at least $50 billion in infrastructure spending, mortgage relief, an extension of unemployment insurance and a deferral of automatic cuts to physician reimbursements under Medicare.
(Excerpt) Read more at nytimes.com ...
Shut it down!
Why the hell is Geitner providing this?
A permanent end to Congressional control over statutory borrowing limts? What POSSIBLY could go wrong with that idea?
To infinity and beyond. The problem is that Boehner won't hold the line anyway and will raise the debt ceiling.
That's all we need to know. It's a nonstarter and a typical joke. Inflation is the most likely outcome.
He’s the white man Susan Rice now. I say..no deals.
You’re the President and you control two thirds of the government. If things go to hell, your voters BHO, will all of a sudden feel the pain and start realizing that Romney really was the better business man. NO deals...we’ll start to fix things in two years. Ball’s in your court Prez.
Does anyone really think the Democrat party wants to fix the economy? Obamugabe and his fellow perverts only want to destroy America.
Just adjourn the House, Mr. Speaker. Sine die!
Timothy F. Geithner? Just what is deliquent tax bill up to now?
There are zero spending cuts under this proposal.
They don’t even feel the need to pretend anymore.
IOW, a doubling down of the very things tht have been destroying our economy, and a removal of Congress's ability to stop it at any time in the future.
The House must say no to this, loudly and longly, and they must go public and use the airwaves, the internet, town halls and every conceivable method possible to expose this filth for what they are...enemies of this nation and all we hold dear.
Many will not buy it and blame the House Republicans...but they must be strong and take that, knowing that giving in to this screed is an absolute end to this Republic.
I would rather it go down fighting.
America at the Crossroads of History
“..Just adjourn the House, Mr. Speaker....”
Yep. But not without a press conference first to say why and to also just casually mention odongo’s multi-million dollar Hawaii vacation. The House should de-fund the entire Executive Branch of the government. Shut it all down.
The status quo is what people voted for. Fiscal Cliff is where we were before the election. Its time to jump.
The right thing to do here is for the speaker to say that and that negotiations are closed. If you want to reopen them then repeal Obamacare. This fight was already fought thdis is what the 3 branches of government agreed to. Nothing has changed since (unfortunately)
80% increased taxes and 20% reduced spending (maybe) when the problem is solely related to spending? The fix should be 100% reduced spending however we don’t have the votes for that. So the waiting game to see how long before Boehner caves....
In other words, the people will no longer have any say over how much we are indebted. Only the dictators will decide.
Same old, same old. Here are the gory details.