Republicans have a major sad that Obama is not crumbling in to their demands:
Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal on Thursday to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, $50 billion in immediate stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits.
The proposal, loaded with Democratic priorities and short on detailed spending cuts, met strong Republican resistance. In exchange for locking in the $1.6 trillion in added revenues, President Obama embraced the goal of finding $400 billion in savings from Medicare and other social programs to be worked out next year, with no guarantees.
He did propose some upfront cuts in programs like farm price supports, but did not specify an amount or any details. And senior Republican aides familiar with the offer said those initial spending cuts might be outweighed by spending increases, including at least $50 billion in infrastructure spending, mortgage relief, an extension of unemployment insurance and a deferral of automatic cuts to physician reimbursements under Medicare.
“The Democrats have yet to get serious about real spending cuts,” Mr. Boehner said after the meeting. “No substantive progress has been made in the talks between the White House and the House over the last two weeks.”
He’s just got them by the balls. If we hit the “fiscal cliff” (I fully expect that to be one of the words/phrases of the year), taxes go up for everyone and Dems can repeatedly offer tax cuts for the middle class and let the Republicans explain why they want to tax 95% of Americans to protect Warren Buffet.
The best part of this is that Team Obama, not worried about re-election, is opening on the left side of the debate and making McConnell and Boehner have major agita. Even better, the pressure from Cantor and the teahadists will mandate that Boehner accept no agreement, and some lunatic like DeMint will filibuster any bill that lets the ridiculous Bush tax cuts expire on the ultra-rich, so this will all be on Republicans. And then Obama can sit back and laugh and repeatedly ask why Republicans are raising taxes on everyone in order to spare Paris Hilton the loot to buy a couple eight balls and penicillin shots.
The ball is in your court, Republicans. What is your offer?