Obama, Boehner Near 'Grand Bargain'—Maybe
Reports cite $3T deal with tax reform, entitlement changes
By Matt Cantor, Newser User
Posted Jul 21, 2011 2:36 PM CDT
President Obama sits with House Speaker John Boehner, House Minority Leader Nancy Pelosi, and House Majority Leader Eric Cantor during debt ceiling talks.   (AP Photo/Charles Dharapak)

(Newser) – President Obama and John Boehner are reportedly back at the bargaining table, and they could be near a deal to cut the deficit and raise the debt ceiling. The rumored $3 trillion agreement between the administration and top Republicans could include entitlement changes and set plans for tax reform, reports Politico. Stories are conflicting, however. John Boehner has labeled “false” a New York Times piece suggesting a “major budget deal” is approaching—but other insiders say the administration told them as much late yesterday.

Meanwhile, the White House press secretary has said the leaders “are not close to a deal.” Still, the reports already have some Democrats concerned that Obama’s chief of staff, Bill Daley, is offering too many concessions. According to the Times piece, the agreement would include new revenue in 2012 through a tax-code overhaul closing loopholes, ditching tax breaks, and lowering taxes for individuals and corporations. Insiders also say the deal would likely contain cuts to Medicare. "I do think there has been a meeting of the minds at least for now … to try and get a grand bargain," said Democratic Rep. Chris Van Hollen.

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Jul 22, 2011 4:22 AM CDT
In 20-30 years, maybe sooner, there will be a day of reckoning when the idiots who voted for these Republicans need to draw Social Security and they realize that all this cutting they supported (by voting for the idiots in the House now) is just going to come back and bite them in the butt. It very well may happens sooner...when they realize that their parents won't have enough SS to live on, or use up their life savings paying medical bills no longer covered by Medicare...and guess where they will moving? In with the kids. But what's really obnoxious here is the outright hypocrisy of Republicans who claim that their fiscal policy actually works...and who claim to hate federalism (or worse..."socialism"). For instance, This chart (link below) shows the amount of dollars each state takes back from Washington DC in federal money, compared with the amount of dollars that particular state sends back. Notice the trend that the overall "conservative" (red) states are the ones taking more out per dollar sent, while the overall "liberal" (blue) states are the ones taking less out for every dollar sent. In other words, the 'conservative" states are living off the largesse created by the "liberal" states. Yep, that socialism is really evil. Without federal money the Republican states would be drawing massive deficits. In short, when Republicans or Tea Partiers tell you that their leaders use sound fiscal policy to balance budgets or create surpluses, they are either lying through the teeth or completely ignorant of facts. And facts are stubborn things. http://www.taxfoundation.org/research/show/22685.html
Jul 21, 2011 7:06 PM CDT
Obama should be getting his second term easily after this game of stupidity the Republicans been playing.
Jul 21, 2011 3:58 PM CDT
The Obama is seeing the light. Let's hope his actions live up to the intelligence suggested by his CV.