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.
"We don't mind the Republicans joining us. They can come for the ride, but they gotta sit in back."
So what changed? Methinks its because the American people spoke in the last election cycle and now he has to deal with the people we put in his way.
I’m sure he was misquoted.
What he really said is that he’ll “take it out” on the American people.
““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””
Should have thought of that before you went on a charging binge......
What he really means is “I’m going to stick it to the American people”.
Who has the pic of the jug-eared black kid crying? It’s appropriate here...
The dog ate my budget...
“It was a lot easier when he was a community organizer.”
He still is.
He's going to the 27% who think we really need to increase the debt ceiling.
The game is over. We won, unless the Republicans decide to surrender, like they always do.
Oh my! Which American people will he go to? The 60% who needs to eat peas?
He’s going to the 27% who think we really need to increase the debt ceiling.
///
exactly. that’s what is so bizarre about this.
they HAVE to have looked at those polls.
they know even democrats don’t support him on this.
so WHY is he doing these staged planned antics?
(and don’t underestimate him. remember all the times we were told that Obamacare was tabled for the year, and had no chance of passing?)
I hope they keep pushing him to the point where he explodes in front of the cameras and he’s hauled off to the loony bin. This is hurting his precious ego.
DOLLAR FOR DOLLAR COMPRIMISE? That’s hilarious..! Ronaldus Maximus aggeed to the following; “1 dollar tax increase for every THREE cut in spending” and later he said he was TRICKED..! Even under those terms..!
1-to-1 is a SUCKER’S GAME.
The cart is teetering on the cliff, right? I say we give it a VIOLENT SHOVE.
Who’s bacon is further in the fire, huh...?
***SMOKE AND MIRRORS —IT’S ALL A BLUFF****
OK Dick Obama, bring it to me, I am an American. Bring it on you marxist twit.
Because of his race, his WHOLE LIFE people have been scared to say no to the guy, even for abundantly reasonable stuff.
Now that the whole country has been cast upon the roulette table, our guys are still sputtering, and this guy is sailing throught the deep, unchartered waters of BEING REFUSED STUFF.
We’ve been living to please the guy, but now apparently we’re to be made to DIE to please the guy —just ask Mexican cops and the Border Patrol, per Fast & Furious.
Real statesman material.
What do you want to bet Barry showed up late, tolerated 10 minutes of talk with old white guys then left in a huff. Thats what you get when you elect a community organizer who has never chaired a one hour meeting nevermind 12 hour marathon session in his life.
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