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Subscribe to RSSFrom the beginning of the "fiscal cliff" negotiations, aides from both sides have said that November would be for saber rattling and December would be when a deal is put together between President Obama and House Speaker John Boehner with Majority Leader Harry Reid’s blessing.
House Speaker John Boehner, R-Ohio, in a press conference on Thursday attacked President Obama and the White House for not taking firm action in avoiding the so-called "fiscal cliff."
Well, consider comments from Boehner and Reid today to be the November saber rattling reporters were warned about.
In his weekly press conference Boehner called out Obama and the Democrats.
"The president has warned us about the dangers of going over the fiscal cliff, but his actions have not matched his public statements,” said Boehner, who acknowledged speaking with the president Wednesday night and called it “very nice” but “direct.” “Members of his own party seem quite comfortable sending the economy over the fiscal cliff."
Boehner said that no “substantive process had been made over the last two weeks” and that he was “disappointed” with the current state of the fiscal cliff negotiations. He also chided Democrats for not offering, he says, serious spending cuts in exchange for his promise of some increased revenue.
Republican leaders say they've put revenues on the table, but are waiting on President Barack Obama to give, and offer something up on ballooning federal retirement programs like Medicare. Fortune Magazine's Carol Loomis discusses.
Speaking later in the day, Reid took this blunt shot at Boehner: “I don’t understand his brain.”
Reid called for Republicans to make “a serious offer” and indicated that Democrats would not act until they heard Republican demands on cuts to entitlements.
Along with raising tax rates, entitlements are also a major sticking point in the negotiations. Neither side wants to be the first to put their fingerprints on any specific entitlement cuts due to the risk of a major public backlash from seniors.
Asked by NBC News what specific cuts to entitlements the GOP would like to see, Boehner pointed to previous budgets passed by the House GOP and rejected by Democrats, but he declined to be precise in what he wanted out of these negotiations.
J. Scott Applewhite / AP
House Speaker John Boehner of Ohio gestures as he speaks to reporters on Capitol Hill in Washington, Thursday, Nov. 29, 2012, after private talks with Treasury Secretary Timothy Geithner on the fiscal cliff negotiations.
“It's been very clear over the last year and half,” Boehner contended. “I've spoken to the president about many of them. If you look at our budget, where we outline very specific proposals that we passed in last year's budget and the budget before, we know what the menu is; we don't know what the White House is willing to do to get serious about our debt crisis."
Boehner dismissed an assertion that the talks had broken down, but his tone was far from optimistic. Wall Street is hoping to see a deal reached, is paying close attention, and both sides are acutely aware of that.
In what could be another potential headache for the White House, Boehner did not back down on his 2011 position regarding raising the nation’s debt limit, saying, “Any increase in the debt limit must be accompanied by spending cuts."
White House Spokesman Jay Carney said he was “surprised” by Boehner’s debt limit comments.
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President Obama has transformed the irresponsible unfunded Bush Tax Cuts into "his" crusade for the the middle class. Now his offering to continue the Payroll Tax Cut, which costs $100B+ a year, while raising revenue by $160B a year. So the initial offer includes $60B in new revenue and minimial spending cuts.
The additional revenue would pay off last years budget deficit in about 40 years.
Is the ulterior motive to go "Cliff Jumping"?
M.J. at least try and be truthful and present the real positions and offers...
There is no "now" on proposing to keep the tax cuts for 98% of the work force. That hasn't changed in years and you know it.
There are plenty of cuts on the table that include Defense spending, Medicare and others. Why is that objectivity and fairness are foreign to the Republican leadership and their followers?
I evolved. I bought into the evil, irresponsible, and unfunded Bush Cuts.
Then President Obama decided to maintain those tax cuts. Then to pay for another tax cut, the Payroll Tax Holiday extension, President Obama proposes to tax the wealthy and corporations. When it is all said and done, the arithmetic yields a net revenue of $60B. At least the proposed $50B stimulus will be paid for.
That leaves us with all new revenue spent.
Extend all Obama Tax Cuts, Bush Cuts, or Clinton Adjusted Rates and let sequestration take care of spending cuts.
M.J. first of all, Congress extended the Bush tax cuts being strong-armed by the Republican leadership doing things like holding the spending cap hostage.
I understand the math you're presenting. However, there are cut on his proposal as well. The right just won't except any deal if the cuts for the wealthy don't stay on the table. It's a simple as that really.
Well lets see, the Boner won't mention which spending cuts the regressive idiots want to cut, he's waiting for the D's to do that. Guess what Boner, hold your breath while you are waiting. The D's will not mention a cut outside of the war machine industry, which in turn fustrates the regressive side.
Obama is showing some smooth moves, he is letting the GOP self destruct, and they and their idiotic base that posts on here can't see it happening. Yes, taxes need to be raised, and cuts need to be made. But REMEMBER one thing, neither Social Security or Medicare is an entitlement. It is an insurance policy, a very poor policy, but it's better than nothing.
So the next time the trolls posting on here call it an entitlement, tell them where to shove it. None of them will explain how or why when you pay for something it becomes an entitlement. Sorry tea baggers, not everyone is as stupid as you people are. Wake up and take the blinders off.
Sally Anne, the fact is that proportionally, people pay in to social security far less then they end up taking out when they retire. How do you expect that an unbalanced system can possibly survive?
When this program was originally set up, people receiving social security did not live nearly as long as they do now. They maybe got ss benefits for 10 years or so. Now, people routinely live for 20 or 25 years on social security.
It can't continue like this. Something has to change. You can try and scare old people all you like but facts are facts.
Even if the Repubs gave into Obama's demand for a tax hike on those earning above $250,000, that brings in $81 billion. Considering our YEARLY deficit is over $1 trillion dollars, what good would this do for our economy?
There simply MUST be reforms to our entitlement programs. The Dems are once again trying to sell "Give us the tax hike now and we'll do cuts later - we promise" which I hope the Repubs are not stupid enough to fall for yet again.
And doesn't spending billions and billions of dollars on stuff like Solyndra, robotic squirrels, floating out houses, and studying the effects of cocaine on monkey brains enter in to this discussion at all? Does ANYONE really think we should have a repeat of Obama's "Stimulus Spending" (cause that was SUCH a raging success the last time)?
Face it. Politicians use our tax dollars to buy off their buddies and supporters and THAT is the reason why there is no real desire to reign in spending.
MOMINNJ....... funny you dont mention the $1T cost of the Iraq war that we were lied to. OR the Medicare RX drug program that Bush made no attempt to pay for. ( It's illegal to try to negotiate bulk buying discounts).
Remember, if the last 3 GOP presidents had NOT signed TWENTY deficit riddled budgets AND saddled Obama with a $1.3T deficit, we wouldnt HAVE A DEBT PROBLEM!! But that was the GOP plan, thinking they could FORCE privatizing SS and Medicare!
Now, Obama has the people behind him, having won re-election easily, and the DEMs made gains in both the House and Senate. The bush tax cuts WILL expire and there will be NO cuts in SS and Medicare since they didnt contribute ONE PENNY to the deficits and debt! If the Republicans refuse, then they will have to face an electorate that is already VERY angry at them for putting the country into the state that we're in!
In case you havn't noticed Obama has been in office for almost 4 years now.
Tom - In case you haven't noticed this is about the current admin not the Bush admin. The country is not angry with the Repubs or they would not have voted the Repubs to back in the have majority of the House AGAIN. They took it away from the Dems in 2010 and saw fit to NOT give it back to them in 2012.
1) The DEMs picked up 10 House seats and 2 Senate seats!
2) As long as the financial mess, created by the raygun/bush/bush trio, which endangers our national security, financial stability and economic future remain unfixed, those responsible will continue to be held responsible.
If the last 3 GOP presidents had NOT signed TWENTY deficit riddled budgets AND saddled Obama with a $1.3T deficit, we wouldnt HAVE A DEBT CRISIS!
Tom - Seats are gained and lost in every general election. You have conveniently overlooked the fact that the voters did NOT want dems in control of both houses of Congress or they would have voted them majorities in both.
The tired dem rhetoric you use about past admins is just that = tired dem rhetoric. Time to hold Obama accountable for his time in office.
Obama has increased the debt by more than 1.3 trillion, in fact is is at least 4 times that since he took office.
I say let the republican party go over the cliff. We will quickly adopt the necessary tax cuts we want. The GOp will have no choice but to sign what the Dems want. The GOP will pay a steep price at the 2014 mid-terms if we go over the cliff. Obama is holding all of the cards. Negotiating with teabaggers is a waste of time.
You are right Obama holds all the cards. so let him play them.
If there is a compromise and the economy gets worse Obama, the democrats, and the media will say that it was the republicans fault.
If there is a compromise and the economy recovers Obama, the democrats, and the media will say that it would have been better if they didn’t have to compromise and the GOP is holding back the country.
So I think the best move for the republican will be give in and let Obama have his way. Don’t vote the Obama plan just abstain from voting. If the economy recovers great democrats will be in control for a long time but if their ideas are better they should be in control. However if the economy gets worse, Obama becomes a lame duck in 2013 and in 2014 and 2016 will be landslide victories for the GOP.
He can play solitaire or deal everyone in. Do you really think he'll go "all in" and risk middle class cuts for $160B in new annual revenue?
Keep in mind the Payroll Tax extension costs $100B+.
MJ. yes he will. Obama has the support of the people in ending the bush tax cuts for the wealthy, closing corporate loopholes as well as budget cuts where the fat is including the Defense Dept. There's plenty of fat in the budget. If the GOP DOES take us over the fiscal cliff, polls indicate that a large majority of Americans will blame the GOP! AND the deficit will be reduced by about $550B. The only worry is what may happen to the economy!
PS: The goal of the GOP is and will always be the privatizing of SS and Medicare. They want to handover all that entitlement money to the same people (Wall St) that crashed the economy! (giggle). If they fail to do that. the GOP will go down in history as the party that created the most dangerous fiscal threat in this country's history! Remember, we may NOT recover from this debt crisis! THAT is the GOP's legacy of the past 35 years!
Tom - You sound like chicken little.
markin - you are putting all the dem eggs in one basket per your comment #310. When the dem concepts you propose fail and the economy goes farther into the tank, it be the dems who have sealed their own fate in 2014 and 2016.
Hey...
Just wanted to let you know:
Today I received my 2012 Social Security Stimulus Package!
It contained two tomato seeds, cornbread mix, a prayer rug,
a machine to blow smoke up my ass, 2 discount coupons to KFC,
an 'Obama Hope & Change' bumper sticker, and a 'Blame it on Bush'
poster for the front yard. The directions were in Spanish.
Watch for yours soon!
Boehner shouldn't be disappointed because he is the obstructionist who is blocking any progress. He feels he is important now and his ego is overflowing. Better come to your senses BONEHEAD, the bigger they are the harder they fall.
60's veteran
Do you consider raising taxes on corporations and the wealthy to pay for Payroll Tax extensions and net $60B or so in new revenue is progress?
Pass all cuts and let sequestration begin.
Disappointed said the man who could NOT sell his grand bargain last year - Mr Bohner is a large disappointment and afraid of Eric Cantor andhis minions, but more importantly he is worried about keeping his than the common good and the people of the US who did not take the Norquist pledge.
The Republicon Politicians have managed to drag this Congress down into the gutter as the worst Congress in history. I can not imagine the arrogance leading to destruction of the Country because you refuse to allow the Rich to pay their fair share of their taxable incomes. May be this is strange to note that these so called Rich folks never created any jobs as they have been purported to have created. Instead, they have taken from the poor taxpayers and managed to dodge paying up to fix the crumbling infrastructures in the Airports and Marinas they use for their mega jets and yatch. These selfish Reuplicons said that the President did not present a proposal, but when they got the People;s proposal, they called it a joke. This blatant disrespect for the Voters of the last Election is appalling. It is unbelievable and the people should throw the useless politicians out of office and back on the Unemployment line for them to learn a lesson.
hank
President Obama is asking to raise roughly $160B a year from the wealthy, while extending the Payroll Tax Cut at a loss of $100B+ a year.
Sorry if I'm not ecstatic about $60B, but that doesn't even cover the interest on last year's deficit spending.
Hank - Had it really been the Repubs dragging down this Congress, the voters would NOT have voted them back in control of the House. Had it really been the Dems dragging down the Congress, the voters would NOT have voted them back in control of the senate.
Both houses of Congress are to fault for this being the worst Congress in history. The voters could just not decide to give either one of them control of both houses of Congress as they did in 2008.
So the best the GOP can do is Romney and Boehner etc., they are doomed.
Since we all now know that tax cuts for the wealthy create NOTHING but MORE wealth for the rich, lets get real and pass the cuts for most Americans and get off this bull@!$%# Boehner and the GOP! We are SICK of your stalling, whining and pandering. We also know that cuts to critical programs like Social security and Medicare do NOTHING but depress our economy even more so how about getting down to DOING YOUR JOB which is to represent the masses and not the few otherwise we will see to it your entire party is wiped out next election!
Dolores
The proposed tax increase projects new revenue to the tune of $160B a year.
The extension of the Payroll Tax Cut costs us over $100B a year.
$60B won't cover the minimum interest payment on last year's debt.
MJ - Your numbers are spot on. There are some who just want to complain no matter what facts are.
So people give you what you want and you still wont accept it. My thinking is that you just want to destroy anyone that doesn not accept everything you say! And Hannah they can do what Mr. Obama did as a young Senator....and vote present on bills. Which part of this economy will you take as your own..... or will Mr. Obama take as his own. Im guessing......anything good you will claim....antything bad is Mr. Bush's fault.
Boehner shouldn't be disappointed. He is the reason for the lack of progress. Guess he just didn't get the message the voters sent out in November. Obama is President; not John Boehner, and not his 1%er candidate.
His party are not interested in the country's welfare, only their own pocketbooks.
The Republicans had better get on board; the next election they might just lose their majority in the house if they don't.
What exactly is President Obama planning to do with the $10B in new revenue after paying for Payroll Tax extensions and his proposed stimulus? That doesn't even cover the minimum interest payment on last year's deficit spending.
angelosdaughter - In case you didn't notice the message the voters sent was to keep the House majority control in the Repubs hands.
They won't next election unless the Repubs stop their anal retentive ways and refuse to do anything for the good of the country unless the 1% can keep their tax breaks. They are like spoiled children. People are tired of their obstructionism. Keeping the rich richer is not translating into more jobs. Their greed is unbelievable. There are some such as Warren Buffett and Bill Gates who do care about the welfare of the country, but too many are like Boehner, McConnell, and that joker Romney for whom maintaining their wealth and power is the only agenda they have. I would love to see Boehner and McConnell trounced the next time they are up for re-election.
As for a message being sent in terms of Congress, I think it is just a matter of keeping the balance of power as the Democrats also kept the majority in the Senate. And a balance of power is not a bad thing, but if there is no action because the Repubs continue refusing to budge so that the country can move forward, I think they will lose their majority in the midterm elections.
Angelosdaughter - What you are saying is the same thing the dems were saying in 2010 and we know how that election turned out.
A balance of power is much better than absolute power since we know that absolute power corrupts absolutely
Yes, well that was during the the President's first term. I agree that a balance of power is a good thing, but to get anything accomplished, there has to be a spirit of cooperation and compromise. That spirit is entirely missing from the House. Boehner needs to put his House in order or he will be back in the real world come midterm elections. I would be happy to see the Republican House majority continue, but with Republicans who know what compromise and concensus mean. It might happen without Boehner the overtanned and McConnell.
The people are tired of the gridlock.
Look in the mirror douchebag, you'll see the reason why there has been no progress.
It's hard for me to understand why so many republicans, who arent in the top 2%, support their party leaders who do everything for the top 2% and dont give a FIG about the rank and file!! I mean, I could see it if the GOP passed legislation that benefited them, but when was the last time the GOP passed any substantial legislation targeted specifically to Joe America????
You dumb bunnies are working aginst your own interests!
As opposed to all of OUR interests?
President Obama has proposed to cut less than 1% in spending. President Obama has proposed to raise $160 billion in revenue a year while extending the Payroll Tax Holiday at a cost of $100B+ a year. Take away the proposed $50 billion stimulus, and the remaining money won't even pay for the minimum interest payment on last year's deficit.
You keep listening to President Obama sell you on your own interests.
MJ the key is that he proposed something. The party of No just keeps blathering and has advanced nothing.
You want to solve the social security problem, well here is a simple solution for all. Collect all the social security you want/need and then when you die, all the benefits you received will be deducted from your estate and put back into the system. Everyone has got SS all wrong it is an insurence policy not to live in poverty. Why is that so hard to understand. It's a social contract to help all Americans.
So Boehner is "disappointed". I can assure you that he is not half as disappointed and disgusted as we are of him and his GOP. Cannot wait for Boehner to be kicked out the door in the next election. Good riddance; we just have to carry the beaten, battered country the GOP has created to that point.
NCAN
What percentage would you have offered to cut?
One of Arkansas' Pub representatives is signing on with other 'Pubs on a bill to "TAX" internet purchases. 23 BILLION IN TAX potential. So much for no new tax. The Right nearly led us over a cliff last year playing brinksmanship. Hoped they learned but guess not. I love that the answer from right-side posters here is to just let the economy tank. We did that under Bush. Do you really want to go that way again just as we are seeing improvement.
So in layman's terms Boehner is disappointed in the Democrats failure too want too destroy the Middle and Working Class Americans safety net...
Don't worry John, I am sure there will be a drunk in your family owned bar that you can toss out into the street....Who knows maybe you will be lucky and it will happen on Christmas eve....
Maybe that @!$%# "boner" needs to look in the mirror! I can't wait for the party of "NO" to just get up and "GO!!!"
When Bohner speaks, the BS cleanup crew should rush the stage with a giant wad of super strong TP to stuff in his mouth.
Americans voted Democratic values!!! and Boehner and Republicans don't get the message!!
President Obama won the election by over 3.5 million votes!!!!
Boehner and Tea-Publicans fail to recognize this!!!
The New Republican Reformist Party!!! owned by the RICH!! and not the PEOPLE!!!
Paul Craig Roberts served in Reagan Treasury Dept, and also worked as editor at the Wall Street Journal. He knows about what he speaks. He described the horrendous economic situation for the US Economy. He puts blame on Wall Street and US Corporate executives who use Asian labor in outsourcing, rendering the US nation of workers poor.
America’s problems started August 1971!!
These are things Republicans don't want you to remember!!
With inflation unresolved by August 1971, and an election year looming, Nixon convened a summit of his economic advisers at Camp David. Nixon then announced temporary wage and price controls, allowed the dollar to float against other currencies, and ended the convertibility of the dollar into gold. This meant our money was now worthless!!! Inflationary dollars!!
The first signs of impending trouble are the exploding budget deficits themselves. They began, of course, under the parlous economic stewardship of Ronald Reagan. Reagan cut the marginal tax rate on the wealthiest of Americans from 70% to 38%. He promised it would spur an orgy of investment and rocket the economy to new levels of production and prosperity. Instead, his supply side economics did the exact opposite. It produced the deepest recession since the Great Depression.
During Reagan's administration, the unemployment rate declined from 7.5% to 5.4%, with the rate reaching highs of 10.8% in 1982 and 10.4% in 1983. Reagan also earned the nickname "the Teflon President", in that public perceptions of him were not tarnished by the controversies that arose during his administration.
Bush blew through Clinton's surplus in his first year. The 2004 deficit reached $415 billion, a record. Still, its real size is masked by the fact that Bush has shifted $150 billion from the Social Security trust fund in order to make the shortfall look smaller. It's like pretending you're richer when you move money from one pocket to another. Both sums have to be repaid, so the real amount borrowed is the $415 billion nominal deficit plus the $150 billion from Social Security or $565,000,000,000 billion.
This is why Social Security will go broke!!!!
Boehner the Nazi needs to go back to Germany ... and take his Judenrat pal Cantor with him.
The country is already being totally controlled by one party, the minority T/GOP through obstruction and filibuster, and rob-operated by the Nazi collaborators Grover Norquist and the Koch brothers. Time to abolish Congress, and extradite Norquist and the Koches bak to Europe where they can be tried for WWII war crimes.
Recalling Congressional representatives should be and is a difficult process. It should only be used against those who violate the trust the people have placed upon them. But, when that sacred trust has been willfully and purposefully violated, then the people have no alternative but to remove them from office. Such is now the case with a group of far right wing, extremist, fanatics in Congress who are holding the people hostage with their demands that all political and economic power in the American Republic be placed in the hands of a small group of vulgarly wealthy individuals whom they represent.
The far right wing, extremist, fanatics in Congress have usurped the power of one of the American Republic’s oldest and most respected political parties, the Republican Party. These individuals have sworn their allegiance to a small group of wealthy plutocrats who control the power to have them elected or defeated for office. To that end, they have taken a pledge not to raise taxes on the wealthy regardless of the needs of the Republic and the people. They have not shared what other directives they have pledged to carry out.
Some brave Republicans have stated that they intend to break their pledge to their plutocrat owners believing their pledge to the Republic and the people are far more important. They have wisely and honorably agreed to enter into negotiations with the President of the United States in a combined effort to seek a “balanced approach” to the nation’s debt crisis. Grover Norquist, the leading and most publically known of these plutocrats, responded to the Republican Congressional delegation that he would make certain any member breaking the pledge of allegiance to him would not return to his or her Congressional seat in the next election. The current Speaker of the House and the Senate Minority Leader promptly responded by pledging their continued support of their pledge of allegiance to Norquist.
The sacred trust between the people and their Congressional representatives has been violated by far right wing, extremist, fanatics who have sworn their allegiance to a group of plutocrats rather than to the Republic and to the people. The time for action has become necessary.
Petitions of recall are now being raised against the far right wing, extremist, fanatic membership in the Republican Congressional delegation with the stated purpose of returning them to their homes and to replace them with CENTER candidates of whatever party charging them twofold:
To pledge their allegiance only to the American Republic and to its people; and, that they work together in a purposeful, combined effort to resolve the problems coming before the government of the United States of America and its people.