Angry John Boehner rallies GOP troops on debt limit

Speaker John Boehner told a closed gathering of House Republicans on Tuesday morning that he was “pissed” over being unable to reach a “grand bargain” with President Barack Obama to make sweeping entitlement changes in return for an overhaul of the U.S. tax code.

But Boehner also accused Obama of failing to lead on the impending crisis over boosting the $14.3 trillion debt limit, according to people inside the GOP meeting.

But while Boehner was trying to rally his Republican troops Tuesday morning, he did warn them that they will quickly lose leverage in the debate as the country grows closer to the Aug. 2 debt default deadline and Wall Street and business leaders pressure them to cut a deal.

House Majority Leader Eric Cantor, who opposed Boehner’s efforts to cut a “grand slam” deal with Obama, was just as blunt as the speaker. Cantor told rank-and-file Republicans that unless Democrats drop their insistence on tax increases as part of an agreement to raise the debt ceiling, there may be no compromise possible with Obama and Democratic congressional leaders.

“If the Democrats continue to insist on tax increases, there is no viable path forward,” Cantor warned, according to sources.

The overwhelming sentiment from House Republicans, according to those present in the room, was that even $2 trillion in cuts over 10 years — roughly what is being discussed at the White House meetings — isn’t sufficient. Republicans want even more cuts, and they want them immediately. Moderate Rep. Cliff Stearns of Florida, a 22-year veteran of the House, stood up and said $2.5 trillion wasn’t enough for a deal.

Florida Rep. Allen West emerged from the meeting to say that he didn’t want “fairy dust spending cuts” that are projected over the next decade.

“We can profitably produce much of what China produces.” I don’t believe this. Until of late most of what China sold us was low quality, low tech, low price per unit crap. If all trade with China stopped the upper classes here would never even know but for the antiques.

“We can’t produce it profitably when their currency is pegged to undercut our costs.” This is neither costless to the Chinese nor without benefit to the US. In essence it means China is subsidizing the US. The inflationary pressures of such a policy is already forcing some production out of China.

“We can’t produce it profitably when we’re adhering to laws and regulations that they do not.” This is true but nothing new in trade nor anything to stop trading about. Nothing the Left would like better than to force its regime down the throat of the rest of the world.

“And we can’t produce it profitably when we’re observing intellectual property laws that they do not.” This again is a problem the kind the hated International Law is designed to address. Too bad they produce little new or valuable enough to steal but that is what happens when an imitative economy is dependent upon a creative economy for success.

“Bush might have campaigned upon it, but the GOP leadership in the House broke the House rules to hold the vote open until they twisted enough arms to pass the bill. The bill would have failed without this tactic.” Standard D.C. sausage-making.

“Simply not raising taxes isn’t going to restore jobs. Why aren’t we seeing jobs created now that the Bush tax cuts have been extended, hmmm?” Try looking at the mad socialist in the White House. I did not mean the GOP could create jobs with President Stifle the Productive Class in office. However, even with him there the GOP policy will keep more people in their jobs so limits his destructive impact.

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