Video: Progress on the fiscal cliff?

posted at 9:41 am on December 17, 2012 by Ed Morrissey

Has the “logjam been broken” on the fiscal cliff?  Yes, says Major Garrett, now at CBS News, although a deal hasn’t been finalized.  His sources at the White House says that the phone call between Barack Obama and John Boehner on Friday night was more successful than previously reported, although from Garrett’s report, the progress sounds a little one-sided:

“All sides are talking to each other on a continuous basis,” Garrett reports. “There is no more positioning.” Garrett reports that the White House believes a deal can be reached by mid-week — which, not coincidentally, would be just enough time for Congress to write up the legislative language necessary to pass it by Christmas.

So what would this deal entail?  According to Garrett, the predictable elements will be:

  • Hike in marginal tax rates for those earning $1 million or more a year
  • Entitlement cuts of ~$1 trillion over the next ten years
  • A one-year hike in the debt limit

Presumably, we’d also have the AMT fix applied –again — and the sequestration issues resolved, at least to some extent.  If so, let’s just remember that this deal has been obvious for the last two years, and certainly since the election which both sides thought would bring them total victory on these issues.


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When do we bend over and grab our ankles?

D-fusit on December 17, 2012 at 9:42 AM

Oh and BISHOP!

D-fusit on December 17, 2012 at 9:43 AM

with the entitlement cuts first and the tax increases later? /s

tomg51 on December 17, 2012 at 9:44 AM

You mean the cans been kicked down the road, as per the usual establishment tactic. There will be no real spending cuts. The “cuts” they are talking about are nothing but a slight reduction in mandatory increases in spending. Our debt will continue to increase, as will our interest payments, cobs of cash – printed out of thin air by the Fed – will continue to flow to entitlements and the DOD.

These morons can’t even agree to cut foreign aid of which the government takes from the middle-class and redistributes to foreign regimes and governments.

MoreLiberty on December 17, 2012 at 9:46 AM

Deal? You can’t deal with the left. They only want total capitulation. We need people like Tom Delay or Newt Gingrich who know how to deal with people like Obama. Boehner has proven to be too weak and much better at running roughshod over Republicans who appear to be too conservative in their ranks.

Deciphering How Statists Think about Gun Control”

iamsaved on December 17, 2012 at 9:47 AM

God these people in DC must think the citizens are the stupidest people on earth. The bill will be passed in the middle of the night wioth billions of freebies to the donors of these guys. This was plannned. IT is nothing but theater it never was anything but theater.

unseen on December 17, 2012 at 9:47 AM

Hike in marginal tax rates for those earning $1 million or more a year
Entitlement cuts of ~$1 trillion over the next ten years
A one-year hike in the debt limit

Screw them and their sisters. I’ll vote Democrat next cycle. I’ll be raped anyway, so can as well brag to be on the winning side.

Archivarix on December 17, 2012 at 9:49 AM

I’m just leary it could be a Lucy withdraws the football deal. We hike taxes, they punt on spending cuts.

scalleywag on December 17, 2012 at 9:50 AM

Sort of like the “deal” to send tax dollars to aid the victims of Hurricane Sandy plus a whole lot of goodies added for pork barrel goodies that have nothing to do with disaster relief brought to you by our illustious representatives.

iamsaved on December 17, 2012 at 9:50 AM

It’s fine. Let’s have four more years of recession/depression. Some lessons need to be learned the hard way.

rbj on December 17, 2012 at 9:51 AM

SCAM.

MoreLiberty on December 17, 2012 at 9:51 AM

Entitlement cuts never gonna happen

cmsinaz on December 17, 2012 at 9:54 AM

A trillion in cuts over 10 years? First of all, we all know those aren’t actual cuts. Secondly, even if they were, that’s 100 mil a year which is less than 10% of the damn annual deficit.

Doughboy on December 17, 2012 at 9:55 AM

Scallywag

You betcha its Lucy with the football

cmsinaz on December 17, 2012 at 9:55 AM

OT: Tim Scott (R) is South Carolina’s newest senator, replacing Jim DeMint.

Democrat response: GOP still racist. Southern Strategy or something.

sentinelrules on December 17, 2012 at 9:55 AM

What exactly are Democrats giving up in this compromise?

Boehner already caved on taxes (although its nice to see some sanity and a millionaires tax on actual millionaires), on the debt ceiling, and probably on everything else. What exactly has Obama caved on?

I thought compromise, in the words of Obama, was the other side moving towards the middle. Seems like what he really meant was that compromise was Republicans coming as close to Obama’s position as possible without him moving an inch from his positions.

milcus on December 17, 2012 at 9:56 AM

Can we get rid of Boehner now. He’s had his chance and he totally sucks. He is just awful. this is embarassing.

earlgrey133 on December 17, 2012 at 10:03 AM

Can someone refresh my memory, because I’m at a loss as to what promises the president has ever kept and why he should be trusted? In fact, if I’m not mistaken there’s quite a long list of broken promises made by the president.

scalleywag on December 17, 2012 at 10:04 AM

Awful. If there aren’t any clear cut entitlement reforms made contemporaneous with the tax hikes, count me out. It will be tough to ram this through the rest of the GOP coalition anyway. Kill this “deal”.

cdog0613 on December 17, 2012 at 10:05 AM

Entitlement cuts… FIRST.

Or, just take another run at that football.

Fallon on December 17, 2012 at 10:06 AM

Maybe they want to get this behind them so they can concentrate on banning our guns.

So what has weepy Boehner given Obama? Maybe the idea of banning guns has suddenly caused Obama to want to get over this quickly so he gave in. He’s looking over to the next real golden prize of finally destroying the 2nd amendment.

JellyToast on December 17, 2012 at 10:11 AM

Here’s my guess:
-tax increases come right away,
-the so-called “savings” from not fighting new war counts in the “spending cuts” and
-any entitlement changes result in savings only after 2022 (or some other very far-off date).

MTF on December 17, 2012 at 10:23 AM

Entitlement cuts of ~$1 trillion over the next ten years

Yeah, right. Got any bridges for sale?

ElectricPhase on December 17, 2012 at 10:24 AM

Ten years. Yeah, lemme guess: taxes go up now, debt limit up now, entitlement cuts subject to fluctuating conditions over 10 years. What will the accumulated debt be by the time 10 years comes along? That trillion will be a drop in the bucket.

Dongemaharu on December 17, 2012 at 10:25 AM

http://www.weeklystandard.com/blogs/sandy-bill-becomes-mini-auto-bailout_689888.html

iamsaved: “Sort of like the “deal” to send tax dollars to aid the victims of Hurricane Sandy plus a whole lot of goodies added for pork barrel goodies that have nothing to do with disaster relief brought to you by our illustious representatives.”

Correct!
I was hoping there would be a separate post on hotair for what is now being called Sandy Scam.
Also being described as a mini auto bailout.
Hey, got to unload those Chevy Volts somehow.

Here’s some other pork for Sandy Scam, which also bypassed the conference committee to rush it through the Senate:
$150M for Alaska fisheries
$ 41M for us military bases, including our friends at Guantanamo Bay
$ 4M for Kennedy Space Ctr. in Florida
$ 3.5M for Homeland Security
$ 2M for Smithsonian Institution

Belle on December 17, 2012 at 10:30 AM

…if those POS don’t do the PRESENT strategy…they can kiss my a_s!

KOOLAID2 on December 17, 2012 at 10:40 AM

http://www.weeklystandard.com/blogs/sandy-bill-becomes-mini-auto-bailout_689888.html

iamsaved: “Sort of like the “deal” to send tax dollars to aid the victims of Hurricane Sandy plus a whole lot of goodies added for pork barrel goodies that have nothing to do with disaster relief brought to you by our illustious representatives.”

Correct!
I was hoping there would be a separate post on hotair for what is now being called Sandy Scam.
Also being described as a mini auto bailout.
Hey, got to unload those Chevy Volts somehow.

Here’s some other pork for Sandy Scam, which also bypassed the conference committee to rush it through the Senate:
$150M for Alaska fisheries
$ 41M for us military bases, including our friends at Guantanamo Bay
$ 4M for Kennedy Space Ctr. in Florida
$ 3.5M for Homeland Security
$ 2M for Smithsonian Institution

Belle on December 17, 2012 at 10:30 AM

^^^ T H I S ^^^…BASTURDS…!!!EVERYONE of THEM…!!!

KOOLAID2 on December 17, 2012 at 10:43 AM

That it’s being leaked the way it is means that 1) the deal is a bad, bad, bad one, and 2) whomever is doing the leaking wants to embarrass Boehner in the worst way.

Boehner knows that whatever he tried/tries to bargin won’t pass muster. Why else would he try to silence any dissent on his end by applying a litmus test to remove chairmanships from opponents – then repeatedly deny the test exists? It’s to divide his own caucus, then hope that the Dems go along with his own political suicide.

Myron Falwell on December 17, 2012 at 10:51 AM

There goes the economy.

DeathtotheSwiss on December 17, 2012 at 10:52 AM

None of this garbage “fixes” anything…it’s just more can kicking…

PatriotRider on December 17, 2012 at 10:53 AM

Not that it was doing great anyways, but hey, raise taxes on even the top .01 percent and you might end up seeing problems.

DeathtotheSwiss on December 17, 2012 at 10:53 AM

I find it hard to believe that The One would agree to any Boehner proposal even one that is exactly what he wants because he would have to say he compromised and caved to the Republican offer.

crazywater on December 17, 2012 at 10:54 AM

The major issue here is that the Republicans are trying to resolve a problem… They should not… They should give Obama what he wants…

mnjg on December 17, 2012 at 10:59 AM

I find it hard to believe that The One would agree to any Boehner proposal even one that is exactly what he wants because he would have to say he compromised and caved to the Republican offer.

crazywater on December 17, 2012 at 10:54 AM

Taking what Rush has been saying into account, Obama’s goal is to destroy the GOP’s lone reliable marketing tentpole – they are the party that doesn’t raise taxes, and that low taxes from the Reagan Administration caused economic growth the likes we’ve never seen. Obama wants Boehnor to cry “uncle” and make a full-on confession that the GOP has been living a lie all along.

What I will add to Rush theory is this: if Obama can get that full-on confession by Boehnor, it’s only the beginning. Say the pissed-off GOP House members get the lower fortitude to throw out Boehnor in political mutiny and reject the deal. Then it’s all the better. He can then claim those Wascally Wepubwicans threw out the only chance to save us from doom, rejecting the admission of political ‘honesty’ from their own leader.

Myron Falwell on December 17, 2012 at 11:02 AM

If the USA runs a TRILLION dollar deficit every year, but only saves 100 Billion in “cuts”, that weans we still add 900 BILLION to the debt…

This isn’t a deal, its a suicide pact…

Time for the Tea Party to rise up and replace the Republicans (modern day Whigs)… I’m in…

Khun Joe on December 17, 2012 at 11:33 AM

“There could be a deal by the middle of this week.”

Just in time for the Mayan Apocalypse! Oh yeah!

pilamaye on December 17, 2012 at 11:35 AM

Merry Christmas Marin county. More taxes to pay for Sandra Flukes boyfriends. Thats if she has any.

Hummer53 on December 17, 2012 at 11:57 AM

God Boehner is so bamsters beeaach .
There is literally no hope for these cry baby republicans

ouldbollix on December 17, 2012 at 11:58 AM

Merry Christmas Marin county. More taxes to pay for Sandra Flukes boyfriends. Thats if she has any.

Hummer53 on December 17, 2012 at 11:57 AM

Sandra’s the female Wilt Chamberlain. Why, I have no clue. He isn’t that attractive.

Myron Falwell on December 17, 2012 at 12:21 PM

Major Garrett, I thought he quit Fox because he wanted to do print journalism, ‘real’ journalism? Now he’s at CBS of all places??

rayra on December 17, 2012 at 12:25 PM

When do we bend over and grab our ankles?

D-fusit on December 17, 2012 at 9:42 AM

I believe it was November 2008.

Cindy Munford on December 17, 2012 at 12:54 PM

Sandra’s the female Wilt Chamberlain. Why, I have no clue. He isn’t that attractive.

Myron Falwell on December 17, 2012 at 12:21 PM

Neither is Wilt.

Midas on December 17, 2012 at 12:56 PM

Kinda OT but…

SPEAKER – ELECTION IS JAN 3RD, 2013

The Representatives of each sate vote for the Speaker of the House. You have the power to stop this. Every House Rep is up for re-election in 2014… This is simple, if they know they will not get re-elected in 2014 unless they vote against Boehner, they will not do it. Stop Boehner now… I know it is the Holiday season, but this guy is getting ready to hand Obama everything he wants on a silver platter.

Here is the GOP House Rep site; just click on your state:

http://www.gop.gov/republicans

RNC CHAIR – ELECTION IS JAN 23RD, 2013

The RNC Chairman is voted for by a 168 member panel. Those people are the leadership of each state RNC. This is simple and requires a firm resolve and a bunch of people calling them. It is the same situation as the House Reps; if they want to keep their position, then they need to “NOT” re-elect Priebus. We the voters can change this.

Here is the RNC state rep site; just click on your state.

http://www.gop.com/members

Fallon on December 17, 2012 at 1:29 PM

Boner is a worthless, disconnected, Establishment-RINO-Douche.

He has to be removed….he’s killing the GOP.

Tim_CA on December 17, 2012 at 2:22 PM

Here’s my guess:
-tax increases come right away,
-the so-called “savings” from not fighting new war counts in the “spending cuts” and
-any entitlement changes result in savings only after 2022 (or some other very far-off date).

MTF on December 17, 2012 at 10:23 AM

You got two of three right:

- The tax increase will hit no later than 2013, with a 1-in-3 chance of them kicking in this tax year (Constitution be damned, just like in 1993). Back-of-the-brain calculations are that we would see a 50% rate on millionaires to make Bo(eh)ner’s goal of $1 trillion-over-10-years solely on their backs.

- If memory serves, “GWOT savings” are $1.2 trillion over 10 years.

- Given both sides are now talking about means-testing SocSecurity (even as one side is publicly talking about eliminating the cap on FICA/SECA) and Medicare as their primary “entitlement reform”, that will either kick in immediately (if the Rats have their way) or too late to actually save SocSecurity/Medicare Part A (by holding those 55 or older “harmless” like the Pubbies want to do).

Steve Eggleston on December 17, 2012 at 2:25 PM

If they would exempt Sub-chapter S (small businesses)from the tax increase AND that the entitlement cuts were immediate and real (no base line budgeting nonsensical increases; perhaps tied to a balanced budget amendment)

I could support the deal. I just doubt either of my reasonable stipulations would be acceptable to big govt types.

kpguru on December 17, 2012 at 3:08 PM

Well, here’s one more guess: I predict the “deal” actually increases spending.

MTF on December 17, 2012 at 5:38 PM

When do we bend over and grab our ankles?

D-fusit on December 17, 2012 at 9:42 AM

NOW!

I long suspected that Garrett harbored liberal tendencies. Popping up at CBS pretty much confirms that.

georgeofthedesert on December 18, 2012 at 3:54 PM