WASHINGTON — President Obama delivered House Speaker John Boehner a new offer Monday to resolve the pending fiscal crisis, a deal that would raise revenues by $1.2 trillion over the next decade but keep in place the Bush-era tax rates for any household with earnings below $400,000.
The offer is close to a plan that Boehner proposed Friday, and both sides expressed confidence that they were closing in on a major deficit reduction plan that could be passed well before January, when more than a half-trillion dollars in automatic tax increases and spending cuts would kick in.
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Obama isn't conceding anything. This is the same article as yesterday's pro-Obama AP report. Only the headline has changed.Obama has NO INTEREST in actually fixing the economy. It's all about "Getting Even" with any successful Americans. Obama is still keeping the budget busting ObamaCare, and 1 Trillion worth of college student loans. And he wants to keep extended benefits going for Unenemployment insurance so that people will collect far more money than they ever made while actually working.
after all this bickering one thing gets lost, we will still have a trillion dollare deficit every year.
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Seems to me that savings on reduced debt is pretty much the same math as "closing loopholes" since neither thing really has a value on it until its in place.
Another burst of idiocy from t he Barry the O mob. What in heavens name would cause this re-elected Illinois political hack to stop at $400,000 in a negotiation to bring Republicans into line with Obama's wish to raise income tax rates for the rich? This is merely an Obama gesture to prove "principle".... or is it gender? He got a huge concession, even a correct concession, out of Speaker Boehne, yet he keeps pressing the issue. Obama's cronies have said he doesn't care if the nation's fiscal system goes over the 'cliff' if he can't raise tax rates on "millionaires and billionaies", like himself of course. But Obama isn't just seeking more tax revenue from millionaires and billionires. He counts the likes of Sen.-elect Lizzy Warren in that bunch he wants to squeeze. And Lizzy stays silent - she of the 'millionaires and billionaires' criticisms. There is a whole lot of principle involved in this effort at 'cliff' avoidance, not the least of which is the failure of the Obama machine to propose means testing for wealtier recipients of Medicare and Social Security, and raising the applicability of Social Security taxes to all income levels. Obama's fiscal policies need reworking, but he has less than two weeks to do anything, assuming the very doubtful proposition that he will work on Christmas Eve, Christmas and New Year's Eve days. No missing Hawaii for this guy.
Don't have a cow man.
To the President. STOP !!!Right now. The R's should be scaling back demands...not you. Say NO to any cuts to harm Soc Secutity and Medicare/Medicaid. With the people's backing yourigor am won the election.Hold Fast!!!