OK

This is only a Preview!

You must Publish this diary to make this visible to the public,
or click 'Edit Diary' to make further changes first.

Posting a Diary Entry

Daily Kos welcomes blog articles from readers, known as diaries. The Intro section to a diary should be about three paragraphs long, and is required. The body section is optional, as is the poll, which can have 1 to 15 choices. Descriptive tags are also required to help others find your diary by subject; please don't use "cute" tags.

When you're ready, scroll down below the tags and click Save & Preview. You can edit your diary after it's published by clicking Edit Diary. Polls cannot be edited once they are published.

If this is your first time creating a Diary since the Ajax upgrade, before you enter any text below, please press Ctrl-F5 and then hold down the Shift Key and press your browser's Reload button to refresh its cache with the new script files.

ATTENTION: READ THE RULES.

  1. One diary daily maximum.
  2. Substantive diaries only. If you don't have at least three solid, original paragraphs, you should probably post a comment in an Open Thread.
  3. No repetitive diaries. Take a moment to ensure your topic hasn't been blogged (you can search for Stories and Diaries that already cover this topic), though fresh original analysis is always welcome.
  4. Use the "Body" textbox if your diary entry is longer than three paragraphs.
  5. Any images in your posts must be hosted by an approved image hosting service (one of: imageshack.us, photobucket.com, flickr.com, smugmug.com, allyoucanupload.com, picturetrail.com, mac.com, webshots.com, editgrid.com).
  6. Copying and pasting entire copyrighted works is prohibited. If you do quote something, keep it brief, always provide a link to the original source, and use the <blockquote> tags to clearly identify the quoted material. Violating this rule is grounds for immediate banning.
  7. Be civil. Do not "call out" other users by name in diary titles. Do not use profanity in diary titles. Don't write diaries whose main purpose is to deliberately inflame.
For the complete list of DailyKos diary guidelines, please click here.

Please begin with an informative title:

If there was any doubt that the Obama administration means business about the Bush Tax cuts expiring on incomes over $250,000, here's news: Treasury Secretary Timothy Geithner just drew a distinct line in the sand: No rate hikes no Deal. Period.

Geithner made the Sunday-coddle-Repubs shows (ABC, FOX, NBC, CNN) and said explicitly that the Obama administration's recent offer to Congress was balanced and the fiscally responsible thing to do. He insisted that there HAD to be rate hikes (not some fancy accounting gimmick) on the top 2% before the WH would consider any deal.

Here's the video from CNN State of the Union (N.B. there's an ad preceding the actual interview)

Intro

You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

In the interview with Candy Crowley, Giethner reiterated the Administration's position that any adverse consequence of the fiscal deal falling through would land squarely on the heads of the Republicans

If they are going to force higher rates on virtually all Americans because they're unwilling to let tax rates go up on 2 percent of Americans, then, I mean that's the choice they're going to have to make
Money quote:
Candy Crowley...They've (Republicans) said no to increasing rates

Geithner: But they know this...there's not gonna be an agreement without rates going up

Crowley: You'll go off the fiscal cliff if the republicans say sorry there's no way we're gonna raise rates on the wealthy, you guys are gonna go off the cliff?

Geithner: If Republicans are not willing to let rates go back up (on the 2%) and we think they should go back to the Clinton levels when the American economy did exceptionally well, then there will NOT be an agreement

Geithner also rejected Boehner's & McConnells spurious charge that the WH did not put forward any "serious" offer. He said the $600 billion in new spending cuts plus the substantial cuts negotiated in the 2011 debt ceiling deal, plus automatic cuts kicking in at the end of this year added up to “a very substantial packet of reforms"

He also defended the $50 billion mini-stimulus for infrastructure spending as affordable and a “modest investment in making this country stronger.”

Now all the admin is waiting for the Republicans to put their offer on the table. In a subtle but unmistakable snarky acknowledgement of Boehner's untenable position Geithner said:

They're in a hard place. And they're having a tough time trying to figure out what they can do, what they can get support from their members for. That's understandable. This is very difficult for them, and we might need to give them a little more time to figure out where they go next.”
Translation: We are prepared to go over the cliff while we wait for them to come to their senses.

Geithner On Fox

***
Update:
Tweets from Treasury Dept

Update II

Meanwhile Grover Norquist is promising a more ferocious Teaparty II than Teaparty I

Extended (Optional)

EMAIL TO A FRIEND X
Your Email has been sent.