Source: Boehner and Obama working on $2 trillion fiscal-cliff proposal
President Obama and House Speaker Boehner are discussing a $2 trillion framework on a deal to avert the fiscal cliff, that would include roughly a trillion in tax increases and roughly a trillion in savings from entitlement programs, multiple sources familiar with the talks tell CNN.
Boehner and the president met in person on Monday, but sources familiar with the talks indicate that the framework under discussion is what Republicans are pushing to get to agreement, but it’s unclear whether the make up of the $2 trillion framework could get support from Democrats.
Democratic sources tell CNN part of the issue now is that the trillion in spending cuts comes from some changes to entitlement programs such as reforms to Medicare – along with a discussion of raising the eligibility age. These Democratic sources say it is unclear if those Medicare changes could pass the House or Senate, because they may be too deep for many Democrats.
Blowback
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A trillion in tax hikes? That’s gonna require a lot more than just raising taxes on millionaires(the real kind, not Obama’s version who make only 200k).
Doughboy on December 17, 2012 at 1:44 PM
Isn’t this just dandy? Gotta make a deal stat so bho/mo/kids/hundreds they need to make them comfortable get out of town for their three vacation? To he!! with the US, just getter done and WE get BOHICA and don’t even get a nice meal with that!
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letget on December 17, 2012 at 1:49 PM
It always seems to be “over 10 years”.
gh on December 17, 2012 at 2:07 PM
I hope any tax increases are too deep for the real conservatives in the House.
MoreLiberty on December 17, 2012 at 2:08 PM
I can’t wait to see what that trillion in supposed entitlement “savings” looks like.
changer1701 on December 17, 2012 at 2:09 PM
I the GOP was even vaguely serious about the fiscal cliff they’d demand a trillion dollars in cuts up front and see if that even happens (it will not).
Boehner and Barky need to sort out some kind of crappy deal. The limos are waiting at the curb, the jets a gassed up, and damnit they deserve their Christmas vacays peons.
CorporatePiggy on December 17, 2012 at 2:19 PM
Boehner and Obama working on $2 trillion
fiscal-cliffplatinum coin proposal. Problem solved!Pork-Chop on December 17, 2012 at 2:25 PM
OT ~ Some good information…
Fallon on December 17, 2012 at 2:27 PM
Thanks, great information. It would be wonderful if boehner got the boot, but who would replace him?
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letget on December 17, 2012 at 2:32 PM
Exactly as I have said all along. A Two-Trillion, ten year “deficit reduction” plan. That means $200 Billion cut annually. Well, no, it doesn’t. It means $100 Billion in cuts, some new taxes and some spending cuts, against a $1.1 Trillion deficit, the first year. Then, skittle-pooping unicorns will lift economic growth, making the cuts $300 Billion in the tenth year, AVERAGING $200 Billion.
Of course, the next recession, coming up on us as we type, will wipe out those tax increases because of the revenue dropping and the spending cuts will be wiped out by all the new spending enacted to lift the economy yet again.
Come fiscal cliff, come. It’s that, or $1.5 Trillion annual deficits in 2016 and beyond.
shuzilla on December 17, 2012 at 3:20 PM
2 trillion dollars? I’m guessing that this involves up front tax increases in exchange for future promised spending cuts.
theblackcommenter on December 17, 2012 at 3:31 PM
yup you have seen this dog and pony show b4 huh
conservative tarheel on December 17, 2012 at 4:24 PM