Posted by Curt on 10 July, 2011 at 6:00 am. 27 comments already!


It’s the last straw. I’m guessing this Wall Street Journal report is accurate; and, if so, the American people and the pathetic John Boehner should begin weeping.

House Speaker John Boehner (R., Ohio) said the White House and congressional leaders have stopped pursuing the major deficit-reduction deal tackling entitlement programs and an overhaul of the tax code that he and President Barack Obama had been seeking.

A statement from Mr. Boehner issued late Saturday, after a conversation with Mr. Obama, said efforts by both parties to reach a deal to reduce the federal deficit by $4 trillion over the next decade reached an impasse this weekend over the issue of taxes. Mr. Boehner said negotiators will instead work toward an agreement closer to $2 trillion.

“Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes,” Mr. Boehner said. “I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase.”

…Messrs. Obama and Boehner had agreed to shoot for a $4 trillion deal that would include up to $1 trillion in tax increases, which Republicans have resisted, and significant savings in Medicare, Medicaid and Social Security, which drew criticism from Democrats. Their hope was to go beyond the minimum deal necessary to win votes in Congress necessary to raise the federal debt ceiling and to make a landmark strike at deficit spending.

…”The White House would not agree with the core elements of tax reform proposed by the speaker,” the Republican familiar with the discussions said. “A gulf also remains between the Speaker and the White House on the issue of medium and long-term structural reforms.”

Hey, schmuck: you don’t need to do anything. The government isn’t going to default; it isn’t going to renege on Social Security; and it could run for a year on current revenues.

James Pethokoukis called it earlier tonight: Obama is “snookering Boehner on taxes”.

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