According to FOX NEWS, the latest debt limit deal has an increase of $2.4 Trillion, with $1 Trillion happening immediately, and the rest based on certain “triggers” as they have become known. Congress would have until the Thanksgiving recess to come up with $1.2 Trillion in spending cuts. If not passed by December, automatic “across the board” cuts would then go into effect.
Yet, FOX also announced that the Progressive Caucus (the ones who proposed the most embarrassing and insulting budget ever!) has stated that they can not support the new possible deal because it DOES NOT include tax increases.
It seems that the idea of compromise has gone out the window. As the Progressives are showing, their “rigid ideology” of taxation (see Big Government and Government Control) is far more important than the welfare of the nation, and much more important than backing their weakened leader, President Obama. Rep. Raul Grijalva (D-AZ) leader of the Progressive Caucus has come out to say:
This deal trades peoples’ livelihoods for the votes of a few unappeasable right-wing radicals, and I will not support it
One no longer has to opine as to who the real radicals are. They are obvious, and they want your money.