GOP Hates Obama's Opening Offer
The fiscal cliff talks are under way
By John Johnson, Newser Staff
Posted Nov 29, 2012 6:45 PM CST
House Speaker John Boehner speaks to reporters on Capitol Hill Thursday.   (AP Photo/J. Scott Applewhite)

(Newser) – Details are emerging on Treasury secretary Tim Geithner's trek to Capitol Hill today to present the White House's wish list in the fiscal cliff talks, a move that "in some sense amounts to a formal start of negotiations," reports the Wall Street Journal. The short version seems to be that he asked for a lot—the proposal was "loaded with Democratic priorities and short on detailed spending cuts," says the New York Times—and Republicans let him know it. "No substantive progress has been made in the talks between the White House and the House over the last two weeks," complained John Boehner afterward. Added Mitch McConnell: The White House has taken a "step backward."

Some highlights of what Geithner requested, from the Times, Journal, and Washington Post:

  • No more debt ceiling—Congress would no longer need to approve an increase in the federal borrowing limit. It could try to block one, but the president would be able to veto.
  • $1.6 trillion in tax increases over 10 years, including an immediate increase in rates for the richest Americans. (Politico says the final figure will be closer to $1.2 trillion once all the "huffing and puffing" is over.)
  • $400 billion in savings over a decade from Medicare and other entitlement programs.
  • $50 billion in new stimulus spending on infrastructure.
  • Extensions of the payroll tax holiday and emergency jobless benefits.

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Showing 3 of 180 comments
Smitty6398
Dec 1, 2012 3:35 AM CST
I don't remember what the GOP has proposed in reply to the Dems. ?? Just some vague BS with no figures in it. The President should remind the Members of Congress that it is THEIR job to legislate, tell them to stop arguing like spoiled children and get busy doing their chores; when they have their homework done he would be happy to check it.
cornelison
Dec 1, 2012 1:09 AM CST
Boehner hates the The Presidentis proposals because it doesn't fire enough Americans. It's the best way to prove that Americans don't want a job & like being lazy.
lahoud
Nov 30, 2012 11:11 AM CST
What's wrong with this girl's brain?