Posted on 07/13/2011 6:35:46 PM PDT by SeekAndFind
Between this and the Moody’s news, tomorrow ought to be fun on Wall Street. Per Slublog, remember during Campaign ’08 when this guy’s big selling point was his “first-class temperament”?
Also, am I right in thinking that the only two times O has walked out on a meeting are today and when he met with Bibi Netanyahu back in March of last year? That’s quite a record of indignation, champ. You really know how to get tough with the enemy.
Cantor said he told the president that the two sides remain so far apart at this point that he doubted they could get to $2.5 trillion in cuts (to match the debt increase requested by the administration, enough to get through the 2012 election) given the time available. President Obama has said he will not sign any increase to the debt ceiling less than that amount, and Cantor had previously insisted that the House would vote no more than one time to increase the debt limit. Cantor said he was willing to abandon his position in order to allow some kind of short-term measure to increase the debt limit and reassure credit markets while negotiations continue, and asked the president if he would be willing to consider this option.
At this point, Cantor explained, the president became “very agitated” and said he had “sat here long enough,” that “Ronald Reagan wouldn’t sit here like this” and “something’s got to give.” Obama then told Republicans they either needed to compromise on their insistence on a dollar for dollar ratio of spending cuts to debt increase or agree to a “grand bargain” including massive tax increases. Before walking out of the room, Cantor said, the president told him: “Eric, don’t call my bluff. I’m going to the American people with this.” He then “shoved back” and said “I’ll see you tomorrow.”
The Democratic spin on what happened is that Cantor “rudely” interrupted The One mid-finger-wag and he got huffy and walked out. As for what he means by “going to the American people,” I don’t want to get my hopes up but we might be in store for another 45-minute lecture tomorrow morning about corporate jets. As an ironic gloss on this drama, read Chuck Todd’s take on how, in principle, Obama and Boehner aren’t all that far apart. If O publicly committed to a truly significant concession, like means-testing for Medicare or raising the eligibility age for Social Security, then maybe the GOP could be persuaded to take another look at letting the Bush tax cuts lapse for the wealthy. But since he won’t, they can’t. Said Boehner to a gaggle of reporters this afternoon, “Dealing with them the last couple months has been like dealing with Jell-o.”
Before he threw his tantrum, Obama also reportedly told Republicans today that Friday’s the deadline for deciding whether both sides should continue to pursue a real deficit-reduction deal or whether they should shift to looking for some sort of fallback plan a la McConnell to avoid default. So, the good news: The first stage of the debt-ceiling drama will kinda sorta be over in the next 48 hours. The bad news: Three more weeks of the next stage to come, guys. Three. More. Weeks.
Update: To steal a line from our Greenroom contributor Karl, here’s more of what the “adult in the room” had to say before he, er, left the room:
“This process is confirming what the American people think is the worst about Washington,” the president said. “Everyone is more interested in posturing, political position and protecting their base than in solving problems.”…
“I have shown enormous willingness to compromise and have taken huge heat for it,” he said, “but my responsibility is to the American people and there comes a point when I need to say, ‘Enough.’”
“It cannot all be on us,” the president said, arguing that Republicans need to give on the revenue side of things as Democrats are willing to do so on spending cuts.
Weigel also clarifies the terms of the actual dispute between O and Cantor. Cantor says they can get a deal for $1.5 trillion in cuts through the House. Problem is, the GOP’s vowed not to raise the debt ceiling by more than the amount in total cuts and a $1.5 trillion debt-ceiling hike won’t get us past the election next year. That makes The Perpetual Campaigner unhappy, so either the GOP will have to step back from its vow or O will have to agree to deal with the debt ceiling again — just a few months before election day, when the incentives on both sides to hold out will be even greater than they are now.
The Narcissist in Chief is whining because isn’t getting his way.
Walk away little girl.
Oh my! Which American people will he go to? The 60% who needs to eat peas?
Oh yea, like they’re going to listen? Down here people ask why he was voted in. I explained to them our MSM.
A first class temper in a first class rage.
He’ll rile up his Rats, as usual.
Call out the Tea Party! There’s gonna be a Redneck Revolution.
Que the teleprompter, he’s gonna give another whiny speech full of uhs, ands and lies.
Obama owns the economy and this disaster. Let him fix it.
Gingrich gave the reasonable suggestion: Cuts that match the debt increase.
He’s going to the American people? the same American people he called too stupid to understand this debt/budget/tax stuff? Bring it on, Mr. BO.
Yes, Mr. Obama keep spending until you break this country. Explain to the public why this is a great idea. lol
I’m wondering just how well things will blow up.
It was a lot easier when he was a community organizer.
The American People you are going to "take it to" already gave their answer to your Marxism and Class Warfare and Destruction of the Republic in NOVEMBER 2010 with one of the biggest nationwide Republican victories in recent history at all levels.
Oh I bet you are going to "take it to the People". Probably with Martial Law, fitting the Third World, Phony, Tin Horn Maniacal Dictator you are.
What a spoiled marxist baby we have in the White Hut! What's the matter Barry, these debt talks cutting into your golf game. This punk isn't fit to shine Ronald Reagan's shoes.
This is a man who's had doors opened for him all his life. He's so used to people fainting in his presence and kissing his butt, now that he's having a bit of a rough time, he takes his ball and goes home.
If the GOP caves into this spoiled brat, they're done. Guaranteed, come election day conservatives will stay home, at least this one will. I've had enough of tough talking repubs, who fold like cheap suits when a liberal starts to demagogue an issue.
I heard on the news before his election that the communities he organized ( his districts) were the most troubled. Boarded up homes and buildings and failing businesses.
Now we have it on a major scale. Howdy Doody is a complete failure.
There is nothing, NOTHING sincere in what the rats are putting forth; nothing. They're pissing around with politics and our country is going into the crapper..
And GOP? What the hell are you doing?!!! Quit playing their games and start calling them what they are; drunk on power. Go further, call out that everything they want to do only continues to hurt the individual citizen.
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