Skip to comments.Obama's opening "fiscal cliff" bid seeks debt limit hike, stimulus
Posted on 11/30/2012 1:35:04 AM PST by GVnana
(Reuters) - The Obama administration's opening bid on Thursday in negotiations to avert a year-end fiscal crunch included a demand for new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling, a Republican congressional aide said.
The proposal, made by Treasury Secretary Timothy Geithner to congressional Republican leaders on Capitol Hill, was seen as offering little the Republicans could agree to and was greeted with laughter, the aide said.
"We can't move any closer to them because they're not even on our planet," the aide said. "It was not a serious proposal."
In the maiden bargaining session, Geithner, the president's lead negotiator, proposed raising tax revenues by $1.6 trillion, congressional aides confirmed. That figure is in line with what Obama has said is necessary to achieve long-term deficit reduction of $4 trillion over 10 years.
The administration also sought at least $50 billion in new economic stimulus spending.
Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterally
(Excerpt) Read more at reuters.com ...
1.6 trillion in new taxes.
$50 billion in "stimulus" spending
And Obama wants the power to unilaterally raise the debt ceiling.
What could be wrong?
At some point in time the Republicans will learn that at least 45% of the people are always going to blame the Republicans no matter what and you can’t deal with those who are insane. The best thing for the country right now is simply to allow the tax cuts to expire, don’t raise the debt ceiling and stop any new spending. Whether the Republicans will have the guts to do that remains to be seen.
BTW-This is all a sham. Taxes are going to go up on everyone anyway simply because the Democrats refuse to cut spending.
Man, Paraguay starts looking better and better every day.
Yes, all ideas-except giving someone like Obama the keys to the debt limit-that have worked so well in the past.
Step 2 - Warn that Obama intransigence will cause a recession
Step 3 - Give Obama a 3 month debt ceiling raise and warn that a budget must be agreed upon to justify any further increases in ceiling. Be prepared to stand firm... without a budget that limits government spending (bylaw) Obama will spend us into oblivion.
Now is the time to stand firm, no raise in the debt ceiling, cut spending.
Good. Let it fail. I hate this country anymore.
apparently the narcissist-in-chief thinks he’s gonna get to start term 2 the same way he started term one... With a TRILLION dollar debt celing hike and another “stimulus” (and in 2009-10 it was another $1.5 TRILLION between TARP all spent on your watch, and PORKULOUS)
then there was that obamacare thing....
Sorry, son, the adults are not going to increase your credit card again after what you showed them the past 4 years. Maybe you need to get a second job, aside from campaigning and community organizing. Maybe... being the president?
As an American, I find this bull**** from the Obama regime offensive and repulsive. KMA Obama! Turbo Tax Timmy can stand in line and wait his turn.
Welcome aboard Free Republic!
This is pretty smart of Dems to pull:
1) Bohner and McConnell havent offered a plan yet and they were they were demanding Os plan first, so O started out with this lib dream wish list which would totally humilate Rs if they had to pass it.
2) When Bohner caves to O and Pelosi as he did last year on the budget control act (Pelosi even voted for that) he will rather dishonesty tell his R members to get their votes :
“The deal I got is much better than that one O offered us before. It’s kind of like a tax cut not a tax increases”
Obama's negotiators also sought the ability to raise the nation's borrowing limit unilaterallyGee for a 'constitutional scholar' (end laughter), Obama sure is one dumb asshat. He seems to have forgotten about that Constitution thingy (again) and the part about all revenue bills originating in Congress (Article 1, Section 7, clause 1) and that Congress is responsible for paying of all Debts (Article 1, Section 8 clause 1).
And as SCOTUS has already ruled one branch of the gubmint cannot cede any of its constitutional duties to another branch -- even if it wants to. Ergo, you're S.O.L. king Barack.
[Revenue Bills 'should' originate in the House. But the Senate can also propose them.]
No Democrat wants to take responsibility for their own actions.
As then Spkr. Rep. Nancy Pelosi once said: We have to pass Obamacare to see what is in it.
And now Benghazi-Coward Obamas Democrats are saying: We have to go over Obamas Fiscal Cliff to see how far we fall financially.
This made me curse like you cannot imagine.
I’ve cursed more in the past 4 years than all my other years combined.