WASHINGTON - House Speaker John Boehner, Republican of Ohio, abandoned efforts last night to reach a comprehensive debt-reduction deal worth more than $4 trillion in savings, telling President Obama that a midsize package was the only politically possible alternative to avoid a first-ever default on the nation’s mounting national debt.
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“Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase,’’ Boehner said.
A significant faction of the tea party movement is prepared to revolt against any GOP deal to raise the debt ceiling – even if it is “revenue neutral” and cuts trillions from federal spending, grass-roots sources tell Newsmax.
For the most part, tea party leaders have coalesced around the “cut, cap, and balance” approach to raising the debt ceiling: Trillions in real spending cuts, a cap on how much federal spending can consume as a percent of GDP, and, ultimately, a balanced budget amendment that would prevent the federal government from running up future deficits.
But the fractious tea party movement actually consists of thousands of loosely affiliated groups. They generally support constitutionally limited government, but don’t always agree on specific policies. And they are by no means united on whether the debt ceiling should be raised at all.
All of the Tea Party influence is in perception and people give them more credit than they are due.
Do they have something to add to the mix?
Yes but until they are better organized and become a real political party they are no more important than a local PTA.
I agree with the basic Idea that we as a Nation have lost our way and moved away from the values our Nation was founded on, but for now they are fragmented in a widely spread loosely connected manner that makes them less effective than than could be if they were to form a sound platform they could all get behind as a cohesive force.
I have to think for now we all have to think about tomorrow and worry about next week when we have to.
I rarely agree with the content of your posts but this is dead on perfect.
They are certainly part of the problem and not at all part of the solution.
I suspect that Boehner found out that Obama is not caving in on much of what the GOP wanted since he got a bit of backbone with high pubic support for Social Security and other programs popular with the public.
This outcome is not surprising. The negotiating approach undertaken was a bad one from the start. Each side started with its maximum position, both of which were irreconcilable, and exhausted a lot of time trying to work toward a midground that didn't exist. IMO, a lot of this time could have been saved had each party proceeded under ground rules where they would make an offer that met their core needs and also was likely to be acceptable to the other side. That way, the gaps would have been smaller and hard bargaining could have been almost immediate. Of course, the downside of that negotiating approach would be that each side would have to make a sincere effort to accommodate what the other side could accept, something that is difficult to achieve in the face of sharp partisan differences.
His act is one of political cowardice and he should be ashamed of himself.
This outcome is not surprising. The negotiating approach undertaken was a bad one from the start. Each side started with its maximum position, both of which were irreconcilable, and exhausted a lot of time trying to work toward a midground that didn't exist. IMO, a lot of this time could have been saved had each party proceeded under ground rules where they would make an offer that met their core needs and also was likely to be acceptable to the other side. That way, the gaps would have been smaller and hard bargaining could have been almost immediate. Of course, the downside of that negotiating approach would be that each side would have to make a sincere effort to accommodate what the other side could accept, something that is difficult to achieve in the face of sharp partisan differences.
Thats not accurate donsutherland1.
Obama must lay in the bed he created and this needs to be made as painful as possible for him.
i'm dissapointed that the republicans don't want to work towards a 4 trillion deal, as in the longterm, this is what we need as a starter...2 trill is a good start, 4 would have been much better..Boehner abandons goal of $4 trillion debt-reduction package - The Boston Globe
Maybe? We're going to get somewhere?
i'm dissapointed that the republicans don't want to work towards a 4 trillion deal, as in the longterm, this is what we need as a starter...2 trill is a good start, 4 would have been much better..
And there's that "cutting off one's nose to spite one's face" attitude that's going to send us all down the ****ter. Well played. Well played, indeed.
I don't think I've ever seen that statement before.
And there's that "cutting off one's nose to spite one's face" attitude that's going to send us all down the ****ter. Well played. Well played, indeed.
You are closer than you think. This is not really about honest negotiations. It is about Republicans slicing the throat of America for nothing more than political purposes. This is about Republicans, looking towards 2012, and willing to do anything, no matter how much it hurts the nation, to try and gain an advantage. Don't forget that, while Bush was in office, the debt ceiling was raised 7 times by Republicans, without any questions whatsoever. But a rubber stamp under Bush is now a demand for absolutely everything they want, with absolutely no room for negotiation whatsoever, under Obama. It can be summed up in a single word - Sabotage.
*Yawn*
Call me when a written deal exists. Until then, I am holding to my theory that Republicans are going to stall until the 2nd of August, regardless of what happens.
that has the potential to cause a significantly bad wall street reaction.
it might impress parts of the Republican base, but those same parts are going to be angry even if there's a compromise at the last possible moment.
they probably have until about July 20th to extend the ceiling with minimal consequences. it should have been done already.
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