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.... you know, John Boehner had a good point on Chris Wallace this Sunday. Compare where we were a year or two ago, right after the passage of Obamacare and with some calling for a second "Stimulus".... to where we are today; with even Democrats discussing the need for Trillions in cuts. Whatever happens, the Tea Party has changed the conversation in America, and for that, good on 'em. )
Speaker Boehner has already agreed to $800 Bn in increased revenue from closing loopholes but lowering tax rates. We shall see how the Democrats plan comes out as far as that is concerned.
...House Speaker John A. Boehner, Ohio Republican, pitched his colleagues on a plan to raise the borrowing limit by about $1 trillion and match that with similar sized spending cuts — enough to last through the rest of the year, and leaving for later the heavy lifting on taxes and bigger spending items.
Meanwhile, Senate Majority Leader Harry Reid said he is working on a plan to raise the debt limit by $2.7 trillion, coupled with an equal reduction in projected future spending. In a concession to Republicans, he said that plan would not include tax increases, but that the new debt level would last through the 2012 elections....
The Associated Press reported that Republicans would release their plan Monday.
But late Sunday, Mr. Reid said he will not accept a short-term increase, and said talks with Mr. Boehner broke down. He said that’s why he is trying to write a longer-term plan...
Democrats said that while they think Mr. Boehner is negotiating in good faith, some of his fellow House Republicans would prefer to see the government fail to raise the debt ceiling at all rather than have any taxes raised.
The GOP, though, repeatedly points to the plan the House passed last week to tie a debt-ceiling increase to deep spending reductions and a promise that a balanced budget amendment to the Constitution be proposed to the states for ratification.
Democrats in the Senate voted to table that plan Friday, but they have yet to produce a budget or a debt plan of their own.
Speaker Boehner has already agreed to $800 Bn in increased revenue from closing loopholes but lowering tax rates. We shall see how the Democrats plan comes out as far as that is concerned.
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