UPDATE: The Huffington Post is now reporting that the Tea Party Caucus in the House has rejected the Boehner Debt Ceuiling Plan that was reported by Wapo's Jennifer Rubin, which incorporated almost all of what the the Tea Party had previosuly approved in their Cap, Cut and Balance bill, because it wasn't pure enough:
UPDATE: 4:10 p.m. -- A coalition of Tea Party chapters and conservative lawmakers on Monday rejected the debt proposal put forward by Speaker John Boehner (R-Ohio), despite his efforts to sweeten the deal with provisions favored by his conservative base.
The Cut, Cap, Balance Coalition, which boasts hundreds of Tea Party groups and more than 100 GOP lawmakers in its membership, is citing two provisions in Boehner's proposal that amount to deal-breakers: its call for creating a Congressional Commission and its inclusion of a balanced budget amendment that, according to the group, is only for show.
"A symbolic vote on a balanced budget amendment at some later time minimizes its importance, as it will not be tied to an increase in the debt ceiling," reads a statement from the coalition. "A BBA that allows a tax increase with anything less than a 2/3 supermajority is not a serious measure."
Boehner is screwed. And the absurd dogmatic ideology of the Tea Party Caucus is simply indescribable. I thought Bush was delusional but thee people should be involuntarily committed to a psychiatric ward. They clearly are a danger to themselves and others. This just made Obama's job a lot easier tonight.
Original post below:
Jennifer Rubin, The Washington Post's mouthpiece for the House Republicans has written a column based on a Republican Aide that claims John Boehner will release the following plan in opposition to Senator Reid's plan and try to cram it down the Democrats' throats:
[Boehner's plan] meets House Republicans’ criteria by (1) making spending cuts that are larger than any debt ceiling increase; (2) implementing spending caps to restrain future spending; and (3) advancing the cause of the Balanced Budget Amendment — without tax hikes on families and job creators. While this is not the House-passed “Cut, Cap, & Balance,” it is a package that reflects the principles of Cut, Cap, & Balance. Here is more information on the plan:
●
Cuts That Exceed The Debt Hike. The framework would cut and cap discretionary spending immediately, saving $1.2 trillion over 10 years (subject to CBO confirmation), and
raise the debt ceiling by less — up to $1 trillion.
●Caps To Control Future Spending. The framework imposes spending caps that would establish clear limits on future spending and serve as a barrier against government expansion while the economy grows. Failure to remain below these caps will trigger automatic across-the-board cuts (otherwise known as sequestration).
●Balanced Budget Amendment. The framework ... [requires Congress] the House and Senate to vote on the measure after October 1, 2011 ...
●Entitlement Reforms & Savings. [C]reates a Joint Committee of Congress ... that would produce a proposal to reduce the deficit by at least $1.8 trillion over 10 years. Each Chamber would consider the proposal of the Joint Committee on an up-or-down basis without any amendments.
●No Tax Hikes.
What a shock. Everything Boehner knows cannot pass the Senate, including future entitlement cuts (unspecified), a smaller debt ceiling raise than is needed, no tax hikes, caps on future spending increases regardless of economic growth or the need to stimulate the economy (except presumably with more tax cuts for the upper 1% and mega-corporations) and a balanced budget amendment that would have little if any chance of ever being adopted by enough states and is bad policy to boot.
Of course, I love this little bit of devilry from Rubin -- attempting to place the blame on Obama for any default though he offered everything Boehner previously asked for in exchange for minor tax reform that would have had little effect on the deficit:
What now? A Republican insider tells me that if/when it passes the House, it will go to the Senate Majority Leader Harry Reid (D-Nev.) has his own plan but won’t have 60 votes to pass the Senate. Eventually, the Senate will pass the House bill and send it to the president. Obama can send the country into default or sign it.
Cute. Well, at least we know his priorities. This tells me Boehner wants a default at this point, because a0 he doesn't want to pass any debt ceiling increase unless the Tea Party Caucus votes with him, and b) he knows that his proposal is DOA in the Senate. Boehner has now officially "caved" to the Tea Party Caucus. I guess Boehner values his Speakership more than a default or a government shutdown. Party before country. So much for all the influence the major campaign contributors to Republicans, Big Business (both Main Street and Wall Street) have over the GOP.