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View Diary: President Obama torpedos Biden/McConnell deal??? (192 comments)

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  •  Obama also said that any further (3+ / 0-)
    Recommended by:
    Vote4Obamain2012, puakev, FistJab

    deficit reduction must be one dollar cut and one dollar revenue.

    This needs to be stated in the bill.

    President Obama, January 9, 2012: "Change is hard, but it is possible. I've Seen it. I've Lived it."

    by Drdemocrat on Mon Dec 31, 2012 at 11:39:12 AM PST

    •  Where would that revenue come from? (6+ / 0-)

      I think that's a fairly meaningless promise for the President to make, since he's taking the tax rate issue largely off the table as far as leverage goes.

      it fitfully blows, half conceals, half discloses

      by Addison on Mon Dec 31, 2012 at 11:43:38 AM PST

      [ Parent ]

      •  and since the House Republicans refuse tax (3+ / 0-)
        Recommended by:
        puakev, Willa Rogers, joanneleon

        increases.

        I think the idea that future deficit reduction will be 1:1 with this House is a fantasy.

        •  maybe not - re leverage (0+ / 0-)

          the republicans would not be in that much worse shape after the tax cuts expire. They can simply put forward a bill to cut taxes on everybody making less than $500K and dare Democrats to vote against it. Revenue bills must originate in the House unless the Speaker chooses to take steps to alleviate that necessity.

          President Obama and Democrats may actually do what they say- not pass (or in the President's case - veto) bills that are not balanced. He would say we got those tax cuts for free. That was the middle class. Or were you really opposed to those tax cuts for the middle class and only supported tax cuts for the wealthy. So, the President and Congressional Dems can stop any bills that simply cut spending without raising new revenue. And they can win that battle politically as well.

          Therefore, BBB's position (which simply assumes the contrary) is probably incorrect. Not saying that his view should not be considered, but simply that in my estimation it is far from conclusive.

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