Boehner Accepts Smaller Deficit Cuts
On Saturday evening, Speaker of the House John Boehner accepted less than he previously asked for in a deficit reduction plan. He slashed the GOP demand for total cuts from $4 trillion to, roughly, the $2 trillion suggested by the White House, and he tentatively agreed to some form of tax increase. (more)
On Saturday evening, Speaker of the House John Boehner accepted less than he previously asked for in a deficit reduction plan. He slashed the GOP demand for total cuts from $4 trillion to, roughly, the $2 trillion suggested by the White House, and he tentatively agreed to some form of tax increase.
The concession is not necessarily a victory for the Democrats, and it’s certainly no win for the American public. Boehner’s initial request for a $4 trillion reduction may have been nothing more than a clever barterer’s tactic: ask for more than you want and you’ll probably get what you need. Stay tuned in the weeks ahead to see who is going to suffer most. You can bet it won’t be the banks. –ARK
Wait, before you go…The New York Times:
Citing differences over tax revenues, House Speaker John A. Boehner on Saturday night said he would drop his push with President Obama for a far-reaching, $4 trillion deficit-reduction plan tied to a proposal to increase the federal debt limit.
… “Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes,” Mr. Boehner said. “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.”
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
Politics
Obama's only takeaway from the Syria episode was to never again seek Congressional approval for military action.
Politics
Cautionary politics lost them the majority a decade ago. It’s taken that long to reboot.
With his nonstop barrage of lies, the president has degraded our electoral system to the point that any result will feel illegitimate.
The class war that gave rise to his campaign is the fault of a long line of corporate Democrats like Joe Biden, and voters know it.
A revealing new study finds the Justice Department charged just 359 such criminals in January—a decline of 25% from five years ago.
A closer look at the Trump administration's agreement with the Taliban reveals all the president's concerned with is bragging rights.
There are currently no responses to this article.
Be the first to respond.