Skip to main content

A Laughing Matter?

30 Nov 2012

A Laughing Matter?

After Treasury Secretary Tim Geithner’s individual meetings yesterday with congressional leaders in the so-called “fiscal cliff” negotiations, Republicans leaked to reporters, per NBC’s Luke Russert, what the Obama White House is offering: 1) $1.6 trillion in tax increases and revenues, 2) a permanent end to Congress’ control of the debt limit, 3) additional stimulus of at least $50 billion, and 4) $400 billion in savings in Medicare and other programs to be worked out next year. Republican aides dismissed the offer as “unbalanced” and “unreasonable.”  A House GOP aide adds to First Read that the $1.6 trillion is TWICE the revenue that President Obama campaigned on (by not extending the Bush tax cuts for the wealthy); that the debt-limit demand is a “pipe dream”; and that the revenue in the offer ($1.6 trillion) is four times greater than the spending cuts ($400 billion). The Weekly Standard reports that Senate Minority Leader Mitch McConnell “burst into laughter” after Geithner offered the plan. THE WHITE HOUSE MESSAGE 1. extending the middle-class tax cuts is MUCH LESS painful than the other revenue, the debt-limit demand and additional stimulus and 2. if the Republicans want entitlement reform, they’re the ones who will have to propose it. The administration’s offer is very specific when it comes to taxes, but not specific when it comes to entitlements. In other words, the WH is saying, we’re dragging you to agreeing to higher revenues, but you guys need to drag us to entitlement fixes.

Related Posts

Washington Report – November 18, 2016

Congress is gone. Next week is Thanksgiving. Take a deep breath COMING SOON: Each announcement...

James Foley: One man’s pursuit of the truth

Yesterday the Islamic terrorist group ISIS released a video showing American journalist James Foley being...

The Washington Report – May 15, 2015

Washington Report SPYING PROGRAMS ON DEATH WATCH ... HIGHWAYS & BYWAYS ... EVEN WHEN CONGRESS...

Leave a reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.