Burn, Baby, Burn
Here comes the counteroffer:
House Republican leaders have made a counteroffer to President Obama in the fiscal cliff negotiations, proposing to cut $2.2 trillion with a combination of spending cuts, entitlement reforms and $800 billion in new tax revenue.
[SNIP]
“What we are putting forward is a credible plan that deserves serious consideration by the White House,” Boehner told reporters in a brief appearance at the Capitol. He said he hoped the administration would respond in a timely manner.
That’s not a credible offer.
First, considering the steaming pile Obama had Geithner serve up last week, Boehner’s counter is far too timid. Instead, Boehner should have demanded the budget be balanced immediately, no new taxes, and for Obama to spend three days in the snow, wearing sackcloth and begging forgiveness. That is how you stake out your ground after being slapped in the face.
But it’s also not credible because it just isn’t credible. It doesn’t go far enough. It doesn’t do anything but kick the can. Again. Boehner’s counteroffer is little more than a preemptive surrender. Imagine President Bush lining up a couple armored divisions in Kuwait early in 2003, then begging Saddam to please let our troops back on the ships and go back home.
Well, that’s what Boehner has done. He’s told the President he’ll cave on taxes without demanding in return any of the real dirty work on spending. Boehner is worse than useless. Chuck him out, staple the balls back on Eric Cantor’s crotch (you’ll find them in Boehner’s bottom-right desk drawer), then put Cantor up there and see if he can do any better.
Otherwise?
Let. It. Burn.
We never really expected him to stand up to Obama, did we?
Not surprised here, to be honest.
And the meme catches fire.
Okay, so I’ve taken a closer look. Am I correct in my reading that it is $2.2T total? Not $2.2T in cuts, and an additional $800B in revenue increases? The total delta, therefore, is $2.2T, not $3T.
Bullshit. Absolute and total bullshit. We’ve got a $16T debt. $1T annual deficits as far as the eye can see. And $86T in unfunded liabilities that aren’t even officially counted by Washington. And they’re talking about $2.2T over the next ten years.
Bull. Fucking. Shit.
Let.It.Burn.
It really is infuriating. Even Paul Ryan’s plans are generally too timid, but putting him in office seemed like our best hope. I am way to disgusted to be disappointed.
I can’t tell if Boehner is clueless or if he is engineering this to fail. What he ought to do is announce a willingness to explore greater revenue sources AFTER Obama publicly describes where he is willing to make immediate cuts. Boehner loses when he is the first to describe what cuts he wants to make. If Republicans compromise on revenue then it should be up to the Democrats to come up with the cuts.
And, the revenue sources that Boehener comes up with should be primarily from those who are not our friends. For instance, remove the deduction for state income taxes from those making over $200,000 a year. Let’s see how Obama can explain how that is not fair.
Actually, that one’s kinda implicitly built into the offer, as far as I can tell. I think one of the revenue generators is a cap on deductions of $15k. So anyone with an income over $200,000 will pretty quickly hit the ceiling. State income taxes will be one of the many victims.
It’d be nice, though, if we could see some specific targets, just so the “targetees” have a clear understanding of why the red dot just showed up on their chests.
Thanks for the info. Is this part of the fiscal cliff or is it the deal Boehner proposed?
If only there was a way to enact a tax that Democrats and only Democrats would pay.
Here’s how it goes down:
New taxes, no budget cuts, Obama blames Repubs in advance for the failure of the new policies. Obama blames Bush for not raising taxes ten years ago. The media and a plurality of the American public agree.
Obama’s new goal is the destruction of the Republican party. Why not? And why so serious.
New American motto: there is no such thing as a worst case scenario.
Evidently, Obama has already rejected Boehner’s counter.
Unbelievable arrogance.
First rule of holes, and Boehner is the one with the shovel.
Oh, nothing will shake my confidence that Boehner will botch this.
What’s going on isn’t negotiation, it’s laying groundwork for blaming the Republicans when a deal isn’t made and the sequestration kicks in.
We go off the cliff, Obama says it’s the Republicans’ fault, the press nods, the hardship kicks in, the low-information voters get mad at the Republicans because that’s what they’re hearing is causing the cuts, and then we have the 2014 election, when Obama hopes to retake the House.
We need smarter Republicans. The guys we have now don’t seem to realize what’s coming or who they’re dealing with.
First off, and I know I’m stealing this from someone, if the Republicans are going to cave, they need to be in front of the cameras, instilling this in the public consciousness: You want Clinton-era tax rates? Sure, we’ll go along, but only if you’ll agree to Clinton-era spending. (We’ll even index to inflation.)
Then, one by one, they need to give as many interviews as possible where they say that they’re not cutting spending – they’re just going to hold the line where it is – even indexing to inflation – until our debt no longer threatens to swamp us.
The fact that the spending I describe would be scored as a nine trillion dollar cut is ridiculous, and dangerous.
Let.It.Burn. I like that.
Followed by Shut.It.Down.
Boehner says he could have easily put the Ryan budget passed earlier this year on the table, but he didn’t.
His next offer should be the Ryan Budget, followed by adjournment of the House and the understanding that the only piece of legislation that will get through the House in January is…the Ryan Budget, 2013 edition.
Gp all the way: Defund Obameecare, defund the czars, defund Planned Parenthood and PBS/NPR, and immediately balance the budget with steep, necessary spending cuts.
Then adjourn to sell the plan to constituents.
Act like you control the House and all spending, GOP.
My own preference would be for the Republicans to refuse to pass anything less than a formal budget – with all the trimmings like 10 yr projections. The very thing that Democrats have refused to do because they don’t want to be on record.
Assuming that neither side is sincere about addressing debts and deficits and “kick the can” is the only strategy on the table, there exist only three possible outcomes.
Default: Eliminate the debt by “stiffing” creditors.
Devalue: Reduce the debt obligation through inflation.
Decouple: Obviate the debt by severing contingency liabilities from the US Treasury.
“Decouple” means that the Federal Reserve will have its statutory power to purchase assets frozen and pension obligations, student loan guarantees and the impaired and under-performing assets of Fannie Mae/Freddie Mac will be recapitalized through open auction.
The resultant recapitalization of values will most certainly lead to a severe recession but the road forward to a sustainable recovery will be cleared.
Kicking the can down the road today means “walking the hard road down” tomorrow.