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Obama, Boehner Strongly at Odds on Fiscal Deal

by Keith Koffler on November 9, 2012, 3:15 pm

The White House today drew a line on the sand on eliminating the Bush tax cuts for high income earners, refusing to consider allowing the tax cuts to remain in place as part of a deal to avoid the “fiscal cliff.”

Speaking in the East Room, Obama said the people had spoken in favor of his position:

I am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000, aren’t asked to pay a dime more in taxes. I’m not going to do that. (Applause.)

And I just want to point out this was a central question during the election. It was debated over and over again. And on Tuesday night, we found out that the majority of Americans agree with my approach — and that includes Democrats, independents, and a lot of Republicans across the country, as well as independent economists and budget experts. That’s how you reduce the deficit — with a balanced approach.

White House Press Secretary Jay Carney said Obama would veto any legislation that maintained the upper inc0me tax cuts.

Meanwhile, House Speaker John Boehner told ABC news that raising income tax rates was “unacceptable,” suggesting the two sides are far apart from a compromise to avoid massive, injurious cuts in spending.

Raising tax rates is unacceptable. … Frankly, it couldn’t even pass the House. I’m not sure it could pass the Senate.

Obama will meet with Congressional leaders next week.

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{ 10 comments… read them below or add one }

William November 9, 2012 at 3:29 pm

“that’s how you reduce the deficit…”

Says the only man in history to run FOUR consecutive ONE TRILLION DOLLAR deficits annually.

I can’t wait to watch the economy implode as Obamacare and all the other tax hikes kick in, causing unemployment to rise, etc. Who’s he gonna blame for that, Bush? You own it, pal, the last four years belong to you, not someone else. You built that economic collapse…..

W

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srdem65 November 9, 2012 at 3:34 pm

I’m with Rushbo; all the Repubs vote present for anything the Dems want to do. They’ll lose the bogey-man to blame and they’ll own everything.

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Susan November 9, 2012 at 3:45 pm

Why not. Hurts less when you pull the bandaid off quickly.

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Star November 9, 2012 at 5:42 pm

See—this is what I mean about hjow he uses the word compromise…he doesn’t even know the meaning of it.

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Star November 9, 2012 at 5:46 pm

He knows darn well that taxing those “like him” (so stupid that he always adds that) won’t create enough revenue to fill up his plane. How about a meaningful trade–something like OK, you get your increase on quarter-millionaires, but the Depts of Commerce, Education and about one thousand little boards and advisory committees no one has ever heard of go buh-bye?

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AFVET November 9, 2012 at 5:49 pm

Paul Ryan for Speaker of the House.
Yes, no ?

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Susan November 9, 2012 at 6:06 pm

YES!!!

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ElmerF November 9, 2012 at 7:43 pm

Yeah, I’ll take the Cliff. It won’t be pretty. But maybe it will cause somnolent Americans to wake up and start taking responsibility for themselves and their governments. Sequestration-Bring it on!!

Let the Repubs walk away from the negotiations. They’ll get blamed for anything Obama screws up. If they do the Democrats will get what they want: tax increases. And we will get what we want: spending cuts. If we negotiate we are nearly guaranteed that the GOP will give the Democrats the tax increases and extract absolutely nothing in return.

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jukin November 9, 2012 at 9:52 pm

Let all of the Bush tax rates go up. Everybody has skin in the game. Reid can’t shelve it, Obama can’t veto it. The GOP just lets it happen.

The bottom line is the $250K and up tax brings in $80B+/-/yr and a repeal of all brings in $435B+/-/yr, in a static model. I believe the Obama FICA tax cut would bring in $140B/yr and is the only funding mechanism for SS. Sequester is $80B+/-. Total of $535B of revenue this year for a mere $80B of cuts. What’s not to like?

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cincycinco November 10, 2012 at 6:45 am

“Obama will meet with Congressional leaders next week.” – Keith Koffler

At which time, he will tell them “Elections have consequences. I won. Get to the back of the bus, and take the half of the country you represent with you. I will revenge myself on them shortly. Until then, I will tolerate nothing from you but obedience. I have spoken.” Obama will then leave, trailing his court of loyal Democrats in his wake. Jay Carney will then go to the podium and pronounce, “So let it be written. So let it be done.” He leaves, and the power is shut off to the room, leaving the Republicans in literal and figurative darkness.

Waste of time. Nothing’s changed. Democrats will screw it up quite a bit more, and House Republicans will be blamed by an uninformed electorate yet again. The Country’s slide to Socialism continues, and when the inevitable happens and they run out of other people’s money, riots will ensue. Obama declares martial law, and the U.S. SSR is born.. Obama’s increased flexibility leads to his increasing reliance on Uncle Vladimir for international respect and tips on oppressing restive populations, eventually casuing Vladimir Putin to rule in the US by proxy. Consult the Book of Revelation for the rest.

Nice job America. Good pick for President. I don’t think you’ll like how it ends, though…

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