FISCAL CLIFF: Obama concedes $400k bottom for rate increases, $1.2 trillion in spending cuts

Looks like Obama and Boehner are getting closer to a political deal that won’t do anything to solve our problems:

TELEGRAPH – With the Jan 1 deadline for a deal looming, Mr Obama offered a major compromise on his demand to raise tax cuts on the rich.

The latest plan would raise the threshold at which higher rates would come into force to those earning $400,000 a year and above, up from the $250,000 threshold on which Mr Obama had earlier insisted.

The president’s new proposal offers $1.2 trillion in revenue hikes and an identical level in spending cuts, a source familiar with the plan said.

Details of a new offer emerged after Mr Obama and Mr Boehner held their latest meeting, a 45-minute encounter at the White House, raising hopes that a deal can be struck and put before Congress before the year-end deadline.

Mr Boehner said the offer was flawed but “positive”.

Any movement away from the unrealistic offers the president has made previously is a step in the right direction,” said Boehner spokesman Michael Steel, while disputing the mathematical assumptions of Mr Obama’s offer.

“A proposal that includes $1.3 trillion in revenue for only $930 billion in spending cuts cannot be considered balanced,” Mr Steel said.

“We hope to continue discussions with the president so we can reach an agreement that is truly balanced and begins to solve our spending problem.”


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  • c4pfan

    These ‘cuts’ are over 10 years, right? What the heck? All this bs over 10 years of nothing in cuts?

    • cuts in the growth of spending I’m sure. Not real cuts.

      • Yeah, that’s the silly part about all this. Obama imagines all sorts of new spending and then agrees to cut back on his dreaming. It’s like wanting to buy two Ferrari’s, but agreeing to only buy one. It’s silly. Buy no Ferrari’s and live within your means.

        • Buying 28.6 flying carpets per year, reduced from plans of 25.17/year of 3 years ago (no budget since), is more realistic & real cutting.

          • So you’re saying he’s actually increased his spending spree for this occasion just so he could “reduce” it to an amount that is actually above what it was before.

            Nice. /sarc (<- targeted @ Obama.)

  • deTocqueville1

    This is a farce and the unwitting Bonehead a bit player and sometime prop in the piece.

    • NJK

      He’s not unwitting. He just doesn’t give a darn. He obviously doesn’t even think about his own children and grandchildren if he has any, or will. This man is not capable of being the type of leader we need now. Instead of stepping aside, he ruins everything. God, help us.

      • Orangeone

        He doesn’t need to. John Boehner is a very wealthy man.

  • Yazz55

    A decrease in the growth rate of spending is now defined as a spending cut.

    … and that is the truth for today as promulgated by the regime and to be regurgitated by the lapdogs

  • At least nobody here is buying it. The thing is, it doesn’t really matter what they do. They may as well just spend all they want. it is too bad that they have to finish us, and the Fed Note, off in this manner, but we might as well take it while they got it. We all should know by now that they won’t end the central banking scheme until it is all worthless, and we are destitute, so enjoy it while it lasts. Your new owners in 1,2,3,4,5 years, maybe. Let’s hope we have a few more years.

    • No problem to debt.
      Was there ever?
      Well, it was “unpatriotic,” but no longer, because the Black Barry Baron said so. Even recently on Letterman, without even knowing (acknowledging) the debt amount. Dave’s guess was only at the 2008 level, 2/3 of now (“$10T” vs ~$16T) & BHO made no attempt to correct him, despite his propensity for correction, which is mostly wrong anyway.

      Who is buying US notes? The Chinese stopped about a year ago, but still have excess US$, due to net trade, so the money goes more into property & companies (shares), with even better “rights” for zoning, mining & such than other owners.

      The Reserve can just “print” money — Ben says so.
      No matter that the CPI is inaccurate, nor that there’s a further set-up for inflation & likelihood of the US$ being dumped as the major world [trading] currency, which leads to more inflation.

      Also, irrelevant that electricity supply is falling. Rationing is around the corner for many consumer items — more than just medical.

      • Exactly. So while they are shutting down the country, and phasing out the Fed Note through devaluation, we may as well enjoy the good times. Before long, the pensions and 401K plans will evaporate and this country will be in a worse way than we have ever seen. Since the fake system is going down anyway, they might as well destroy it slowly so we get a few more years, since they won’t create a sovereign currency and restore our industrial base.

  • proudhispanicconservative

    You tea party conservatives that were elected back in 2010, we are going to be watching your vote, we are going to see which leader comes out of this piece of crap that they are attempting to throw back at us, Boehner is going to be in charge of the first republican led congress in history to raise taxes, when that happens folks we are doomed, and eventually a new party will finally have to be established. We need Allen West, Sarah Palin, Ted Cruz, Tim Scott, Huelskamp, Rubio, or any of the other bright stars in what is now called the Gop and brake ranks, and help us build a new party, we have 4 years to make it into a viable party, but is going to take a major figure out of those mentioned to get it started, for that we need courage.

    • Guest

      Sorry but ROOOOOOOOOOOOOOOOObio is part of the “Big Government” Bush mafia.

      I know it is a disappointment to you being that he is Cuban. Just ask the Cubans in South Florida how they feel about him. He is a disgrace! He speaks like Reagan but with a forked tongue.

      Rubio is a career opportunist who is out for Marco Rubio only.

      Go ahead and throw that “purist” around. Actions speak louder than Rubio’s Bush mafia words.

      Other than your including Rubio I agree with your comment. I truly hope that you see the light regarding Rubio as he will only continue to disappoint and we sincerely need conservatives like you to build this movement.

      Feliz Navidad amigo!

    • Orangeone

      Rubio is at best a RINO. He will “object” only because he wants that as a campaign ad in 2016. His focus is not on this country, it is on campaigning, taking a lesson out of Barky Boy’s campaign trail memoirs.

      • How can he be “at best a RiNO”? Are you implying the man who ran against Crist on a clearly Conservative platform (like Ryan’s Entitlement Reform, before it was fashionable) is secretly a Democrat? Remember what an underdog campaign it was in the beginning, how dangerous Entitlement Reform is in FL?

        You like Tim Scott, but he’s not in a State that was won four out of six times by D Presidential candidates, like Rubio is. Also, who exactly is going to be elected Pres of the US in your lifetime, who is more Conservative than Rubio?

        I’m serious. You could be 20 and planning on living another 60 years, but I really want to know. With the fact that Rs have lost the Popular Vote in five of six Presidential elections…who’s going to win that’s more Conservative than Rubio in your lifetime?

        • Orangeone

          Yes I do believe Rubio is closer to Democrat than Republican.  He is an illegal alien lover and admitted he would have violated our federal laws for his own self gain.  He also hangs out with Jebby boy Bush.  And the boy Ryan has proven his allegiance to John Boehner, the RINO in chief, by supporting the removal of Tea Party candidates from key committee positions.  And let me finish with Scott Brown, the MA boy that ran as a conservative and then voted almost 100% with the Democrats.

        • Tinkle is a Rubio is a RINO in Conservative clothing. For now he’s saying all of the right things to position himself for 2016. His primary goal is his own Dream Act. No thanks.

      • proudhispanicconservative

        Unfortunately I think you are right.

  • kong1967

    Boehner should be saying “promised future cuts” that never happen. It’s a feel good “see, we’re doing something”…and they aren’t. They are misleading the public and continuing the same ‘ol corrupt spending and destruction of our dollar.

    • aposematic

      Boehner wants the same thing that Obuma wants. The only disagreements stem from Boehner wanting to have a place at the table when Obuma decides which groups of elite World Leaders receive the redistribution of the American Constitutional Republic’s massively created wealth.

      • kong1967

        Yeah, I think those golf games made the two a little bit too much buddy buddy. I got the impression that Obama must be giving Boehner tips on how to coerce the party to get behind him (like Obama did with health care). After Boehner started having secret meetings with Obama is when Boehner started party disciplinary action with demotions…..punishment for not caving to Obama.

  • This is what the American people want they have no one to blame but themselves and Obama for it.

    • badbadlibs

      If only there was a way to separate those who have sense and those who voted for bo and his henchmen. Those who are not to blame shouldn’t have to pay the consequences….it’s entirely too bad we’re all in the same sinking boat.

      • Conservatives are the minority right now.

        • badbadlibs

          What a pity.

  • jleinf

    Six letter word= BUDGET

    • sDee

      It does appear, that without actually declaring it, it is now accepted policy by the US Federal Government to operate without a budget or any real constraint except how much it borrows.

      The role of the executive branch is to borrow and spend money on whatever it sees fit.

      The role of Congress is to feign control, and rubberstamp as much borrowing and taxing as they can get away with, without the taxpayers jumping out of the frog pot.

      Why is this not the headline instead of the Kabuki dance between Boehner and Hussein?

  • NJK

    Look at the damage these two are doing. Just look at what Boehner is going to do to business.

  • NJK

    There will have to be a third party. To Mark Levin who I love and admire, I can’t support the GOP anymore. I’ve come to the sad conclusion that Boehner is secretly working with the left. He doesn’t represent the America I know. There is now, now difference between Pubs and the left. It’s official.

    I guess Boehner needs to go home for his Christmas drink?

  • I just wonder if Boehner will be able to stay as Speaker of the House much longer? After this amazing display of lack of leadership and lack of guts and backbone, you really have to wonder if he has much of a future left. God, do we need Newt as Speaker, now more than ever.

    • Orangeone

      Twitter rumours that Bachmann is gaining votes needed to unseat Crybaby Boehner!

  • notebene

    This is a sick joke. I’m really over politicians kicking the can down the road instead of doing their jobs! Then they’ll reward themselves with million dollar vacations on our tax dollars for not doing their jobs! Write a real and responsible budget! Cut your spending and start stimulating the economy so that we have less people on the government dole and paying taxes. It’s not rocket science to do your job! Their pay should be held hostage until they sit down and do it!

  • Sandra123456

    I hate the idea of three men in a room deciding our financial fate. I also resent that 2 of the 3, I could not vote for or against.

    Let’s return Senators to the way they were created to be by our Founders (appointed state ambassadors to DC), or let’s have national elections for all Senators.

  • aposematic

    The result of any deal our Government concocts have only one guarantee: the American people will get screwed.

  • I really, REALLY like the ring of Speaker Bachmann. Boehner has to go. He is awful

  • Conniption Fitz
  • bjohnson55

    Baseline budget smoke and mirror, dog and pony act is all this is. Lets see some real freaking cuts and will we hear on the lame stream media news reports that Obama wanted these rate hikes on people earning $250,000 NO what we hear on these Obama propoganda machines is he wants to raise the rates on Millionares. Last I checked $250,000 is not a million in fact with the way the Fed is printing money is is about $25,000 worth.

  • BHliberty

    This is such a non-serious proposal that I just ignore what these non-serious politicians put before us. When you have no budget and the sky is the limit, then its clear how this will all end up, inflation and the probability of a valueless dollar. How long it will take, is anyone’s guess!

    And to think we have four more years of this menoosha!

  • 57thunderbird

    BOHICA America.

  • aposematic

    All spending Bills originate in the Senate; the House then has the option of funding, not funding, or limiting the spending. Since 2007, this spending was rubber stamped by a D controlled Congress. In 2011, the House gained (R) control. Since, Boehner (R) has rubber stamped all spending funding with $1.2+ Trillion deficits, same as under the D’s controll. The majority of the deficite spending was financed/borrowed by the Federal Reserve–a cabal/consortium of World Billionaire Bankers intentioned to steal the American Constitutional Republic’s massively produced wealth. Foreign US debt held is now over $5.5T, a massive increase since Obuma took office. The result of Boehner’s rubber stamping Obuma’s spending weakened the Dollar, increased the debt, and guaranteed the redistribution funding needed for Obuma to get reelected. Basically, the R controlled House financed Obuma’s reelection. These actions/inactions by Boehner makes him a traitor to the GOP, Conservatives, and America.

  • mikeinidaho

    A trillion here and a trillion there and pretty soon you have a total collapse of the system.
    It’s all BS and both sides (and any thinking citizens) know it. Obama will continue to angle for the collapse of the capitalist system and the institution of socialism at best or communism at worst. Boehner is just another patsy from the now dead Republican Party.

    • Orangeone

      What comes after trillion?

  • Let us get rid of the EPA, Board of Education and stop the cutting of our Military which is what the Government is suppose to do. Protect it’s people. Oh yeah and let the pipeline get built and allow us to drill for oil. Let us get off foreign oil.