GOP: White House "fiscal cliff" idea "a joke"

The White House made an offer to House Republicans today to avert the fiscal cliff that Republican aides familiar with the talks panned as "a joke", "an insult" and "a complete break from reality."

A Republican aide familiar with the offer that was presented to House Speaker John Boehner by Treasury Secretary Timothy Geithner and White House congressional liason Rob Nabors confirmed that the $4 trillion package would raise $1.6 trillion in tax revenue up front. Republicans call that number too high and extreme to be offering two weeks into negotiations with a just a month left before the deadline.

• Boehner: "No substantive progress" on "fiscal cliff" talks
• "Fiscal cliff": It's more than just taxes

In exchange for the added tax revenue, Democrats would give in on $400 billion in spending cuts from entitlement programs like Medicare and an aide said those cuts would not be immediate. Boehner slammed that number right after the meeting at a press conference though he would not say what the number should be.

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Boehner: "No substantive progress" on "fiscal cliff" talks

"Unfortunately many Democrats continue to rule out spending cuts that must be part of any significant agreement that will reduce our deficit" Boehner said.

The package would be structured in such a way that some tax increases would happen now and tax reform would happen next year. Tax rates for the wealthiest two percent would go up immediately.

Treasury Secretary Timothy Geithner at the U.S. Capitol for meetings with congressional leaders November 29, 2012.

/ Alex Wong/Getty Images

The offer, according to Republicans, would also include $50 billion in stimulus spending in the form of infrastructure projects, an extension of unemployment benefits and a extension of the two percent payroll tax break.

The White House would also like to avoid future fights over raising the debt ceiling by taking it out of Congress altogether. While Congress could act to block a debt limit increase, it would not be necessary for Congress to approve one.

One Republican aide expressed outrage that the White House would ask for that with no reforms attached at all. Earlier today, Boehner said, that "there is a lot of things that I have wanted in my life but almost all of them had a price tag attached to them.

"If we're going to talk about the debt limit in this, then there is going to be some price tag associated with it."

Democrats have been equally critical of Republicans in negotiations so far saying that Republicans have not put a real revenue offer on the table since they have not said how much money they'd be willing to put to the deficit through tax revenue.

"Right now, the only thing preventing us from reaching a deal that averts the fiscal cliff and avoids a tax hike on 98 percent of Americans is the refusal of Congressional Republicans to ask the very wealthiest individuals to pay higher tax rates," Deputy White House press secretary Josh Earnest said in a written statement.

"The President has already signed into law over $1 trillion in spending cuts and we remain willing to do tough things to compromise, and it's time for Republicans in Washington to join the chorus of other voices - from the business community to middle class Americans across the country - who support a balanced approach that asks more from the wealthiest Americans."

Despite the appearance of talks breaking down today, Boehner said he's still optimistic a deal can be reached.

The White House's Nabors also seemed determined to keep talking.

"We're going to keep working with folks just like we have been and, you know, we'll make progress."

[GOP-R--Con-Men]

Republicans have 2 more years of power to stop America's progress. Countdown to 2014 elections where they get flushed down the toilet like the $hit they are.

[Mr_JQ]

You are the one they are running the con on. All of us GOP and Dems. Take a good look at who funds their campaigns. The same names show up on both sides. This is one big smoke and mirrors trick. While they keep 2 halves of the country at each others throat and trample on our rights. The Deficit keeps growing and no cuts on spending. Both parties are pointing their finger at the other for blame. Understand Obama did not win by such a large margin so its not like it was some kind of landslide on opinions. It was a close election. You have 2 halves of a country going at each others throat. Do you really think that businesses that are affected by being over the 250k mark are the rich in this country? You are all convinced that it is only the very wealthy that would be affected. I have one of those businesses that will be affected. I had to put a freeze on hiring because I cant afford it and I am dreading to let go of the few employees I have. I cant afford to relocate my business out of the country to save it. I am starting to believe that we should all go off the cliff and face the music. Once we bite the bullet we will be able to rebuild. You really think that either party running the whole show without checks and balance is going to solve our problems. It is all one big scam. The interesting thing is that people are willing to give up more and more of their rights to a growing government that has proven that it cant get matters under control. The problem is that it is all based on promises that have yet to be fulfilled. Sadly I cant blame my business partner for failing to reach an agreement on how to run our company. It is my fault for failing to make the partnership work as much as it is his. Ultimately the business will fail and it will be equally our fault. That's the same thing happening in Washington. Two incompetent parties that cant come together to make things work. We are the fools that are along for the ride and keep believing empty promises.

[bbglow]

Google: Cheney "deficits don't matter".

... they only care when it's not going into their pockets. (period)

[qyeteye]

GOP a joke from Phil Gram-R Waving deregulation bill in the Sentate claiming how it would free and be good for the economy to the 2012 Primary Clown Show and a presidential candidates with weekly missteps and gaffes.

Please.

[bantamei]

The Gas and Oil, (or Gut the Poor) party is a joke.

[GOP-R--Con-Men]

In 2010 republicans ran and won on the promise to create jobs. However, once in power they did everything except create jobs in fact they were focused on not allowing jobs to be created in order to make President Obama "A One Term President". Obviously that didn't work but they coninue those same tactics even though they know they are hurting the country and struggling Americans.

Republicans continue to thumb their nose at the rest of America and prove they have more allegiance to Grover Norquist and his anti tax pledge than to America and our constitution. Unpatriotic republican cretins are unworthy of holding any office in American government.

[earlysaid]

Exactly. The GOP are entrenched against everything that would solve this situation. It would be so easy. But they make everything as hard as they can. This is no longer something that anyone in the country wants. We are tired of it. We are tired and disgusted with the right wing agenda that only includes what millionaires and billionaires want. Anyone not in the one percent is out of luck because these republicans serve corporate greed and Grover Norquist, the anti-government lobbyist who demands fealty from these republican extremists.

[oldandmad]

We've already been taught that tax breaks for the 1% don't work - anybody remember the voodoo economics of Reagan? We also know that we have copious DOD spending (think 13 Carrier strike force units at $6 million per day EACH.....think -- we have more Generals and Admirals on active duty now than we had at the PEAK of WWII when the whole country was at war). We also know many folks on disability aren't really disabled, but are collecting anyway, and 'something-for-nothing' policies have no good outcome. We also know that wages have been losing ground since 1967 (yes, 1967), and that NO Republican Administration has raised minimum wage (save for a cursory raise by Reagan to get Bush Sr elected). It is amazing that Boehner and company are STILL clinging to the dated and ineffective tack of feeding the money beast to keep their spa-tans intact.

Easy Solution? Televise the G-D thing. Prez should stop dancing, start talking in easy-to-understand, common-sense language, and let the American People see the discussions up close and personal! I would bet that with the increasing impatience out here, and all the faithful and hard-working folks who are fed up with DC politics 'hooked into' the proceedings, and some cameras in there, those guys may just start acting like they care about the problem. I guarantee this is not as difficult as they make it out to be, and we should not be cowering in fear over this stuff. And remember:

'The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.'

H. L. Mencken

[Stees4]

Voodo economics are the way things should work. The people of this country give tax breaks to the wealthiest among us, and in return, the wealthiest among us create jobs with that money. This is a winning condition for the American people.The problem being that the American people lived up to their end of the bargain, by providng the tax breaks desired by the wealthiest among us, but the wealthiest among us have not lived up to their end of the bargain. They took the tax breaks and created jobs off shore rather than in this country. Voodo economics in the understanding of the wealthy became trickle up the money from tax dollars saved to them , and trickle out sourcing of the jobs to other countries. Profit for the wealthiest among us has been more important to them in the past than the American people and their needs. Very few mention that 1/3 of our national debt could be averted, if people were working paying taxes to the government so it could meet it's obligations to the people of this country. In order to have a successful economy in this country, we must have an economy where everyone in that economy gets a piece of the action. People can't buy products being produced in this country or pay taxes to the government, unless they have a good paying job.

[Mr_JQ]

How about a tax moratorium for consumer spending on US made products? Let's see how that would affect the growth of US companies and manufacturers. Let the consumer take the drivers seat.

[GOP-R--Con-Men]

"GOP: White House "fiscal cliff" idea "a joke"

More noisy flatulence for the rear ends of Boehner and McConnell.

[GOP-R--Con-Men]

Correction: That should read. More noisy flatulence FROM the rear ends of Boehner and McConnell.

[ItIzDOUGieFresh]

Here is a mind boggling idea. Why don't we just let President Obama handle the fiscal cliff the way he believes is best? He is our president, let's trust his judgement.

[TimeToEvolve]

The more money you give to the rich the less money circulates through the economy. And corporations are far, far less efficient than the government. They cost us all more money.

[TimeToEvolve]

Again the richest 400 families own as much wealth as the bottom 150,000,000 Americans. So yes, using their wealth will help a lot. They made all that money off the backs of all of us. And by using the commons that we all own.