Boehner & White House Discuss $3 Trillion Debt Cut Plan With No Tax Hikes …Update: Boehner Says No Deal Made

Boehner wins.
Speaker Boehner and the White House are discussing a deal to cut $3 trillion in debt with no tax hikes.
The National Journal reported:

The White House and House Republican leaders are discussing a large deal to raise the debt ceiling that would include about $3 trillion in deficit cuts over 10 years, according to several congressional aides.

The aides, who declined to be named because they weren’t authorized to speak publicly, said the proposal’s outline is broadly similar to a plan discussed previously by President Obama and House Speaker John Boehner, R-Ohio, and a “Gang of Six” proposal to cut about $3.7 trillion in a decade, with the major exception that it would not raise significant tax revenue. The gang proposal, by contrast, would seek $1 trillion of its deficit cuts from new tax revenue.

A White House official who asked not to be identified said progress was being made in the discussions. But the official declined to provide any details, deferring to Boehner’s ongoing presentations to House Republicans as he works to determine whether he can garner the necessary support for passage.

UPDATE: Speaker Boehner called the Rush Limbaugh show today and said there was no deal made with the White House.

1 2 Newer Comments >>
`

#1 July 21, 2011 at 2:13 pm
Bob Zimmerman commented:

He was just on Rush’s show and said there was no deal.
#2 July 21, 2011 at 2:16 pm
big L commented:

we are goin’ to get hosed.Pay the debt. pay the seniors, pay the medicare. We have either $172 billion or $200 billion coming in ,extracted from us ,we the People, every month. Spend it on what is prioritized.
How hard is that.
Moody’s rated the sub prime crap loans as triple A…they a re discreditied and the Conservatives should throw that in their face when the down-gradecomes.
#3 July 21, 2011 at 2:23 pm
tommy mc donnell commented:

we need tax repeal! the biggest economic problem in the country is the enormous amount of the WORKERS money that is in the hands of the modern spendaholic politicans.
#4 July 21, 2011 at 2:33 pm
Blacque Jacques Shellacque commented:

I hear the mumblings of “compromise”…
#5 July 21, 2011 at 2:40 pm
Mad Hatter commented:

Why do I have a bad feeling that Boehner is going to “compromise” a deal over the weekend? He’s a lifer in D.C. and for the most part, I don’t trust him.
#6 July 21, 2011 at 2:40 pm
gus commented:

NOT A CHANCE. It will NEVER happen. Boehner will NEVER get the better of Obama.
#7 July 21, 2011 at 2:41 pm
FU#K OBAMA commented:

I pitty the GOP should they cave in to Obama and the commies.
#8 July 21, 2011 at 2:45 pm
#1AMERICAN commented:

will not believe for 1 minute the mooslime will sign anything that doesn’t include tax increases….
#9 July 21, 2011 at 2:46 pm
Redwine commented:

I heard Boehner support Cut, Cap, Balance on Rush. I’m just afraid of a reliance on “fall-back” plans. There shouldn’t be any fall-back plans. The GOP should be promoting CCB loudly, and in unison.

They cave, and we are very royally screwed.
#10 July 21, 2011 at 3:04 pm
mamagriz68 commented:

Boehner’s Speaker e-mail is shut down right now. Can’t get through on the phone. They are definitely getting an earful on Capitol Hill.
#11 July 21, 2011 at 3:07 pm
mark smith commented:

Figures dont lie but lairs figure. CCB is based on the GNP. Watch the GNP change when things go wrong, just like the way they figure the inflation (excluded gas and food products) to make it look better.
#12 July 21, 2011 at 3:26 pm
Just_Saying commented:

$3 trillion: in ten years, big deal; in one year, gets my attention!
.
#13 July 21, 2011 at 3:28 pm
Just_Saying commented:

“big deal” in my comment #12 was sarcastic — meant “nothing special.”
.
#14 July 21, 2011 at 3:33 pm
Nancy commented:

I heard the denial on Rush. If it turns out that he bald-faced lied to Rush and his audience, no one will ever give him even the miniscule level of trust that he has now, again. I only pray that the Tea Party (of which I am a member) doesn’t fragment the Republican party, should it turn out that Boehner lied, but instead concentrates on primarying anyone who votes for tax hikes, no matter how small, or tax cuts more than a year or two ahead, because we all know that they will never come to pass.
#15 July 21, 2011 at 3:55 pm
west1890 commented:

If they eliminate the deduction for mortgage interest and property taxes then they are imposing a HUGE tax increase on middle class Americans, not to mention the negative effect that would have on the housing market – increasing the difficulty in selling the glut of homes on the market. Somehow I can’t imaging the American taxpayer coming out of this without getting hosed by Obama and the Democrats.
#16 July 21, 2011 at 3:58 pm
John G. commented:

Let me get this correct. We have a 1.5 T deficit PER YEAR. They are proposing a 3 T reduction in the deficit spending over 10 years. That means next year we will only have a 1.2 T deficit. That is still 3 to 4 times larger than Bush. We still go broke and my kids future is gone.

Balanced Budget Amendment seems to be the only way to save the future. It works in all the states that use it.
#17 July 21, 2011 at 4:23 pm
MaxTruth commented:

Until I hear they are immediately firing 500,000 government employees, I know they are not serious.
#19 July 21, 2011 at 6:12 pm
demslament commented:

wow..that was quick! nice work, Jim!
#20 July 21, 2011 at 6:47 pm
chemman commented:

Projected budget deficits are on the order of 1 trillion + per year as far out as the eye can see. So if we are projected to overspend by 10 trillion over the decade but cut 3 trillion from it I still see an additional 7 trillion in debt. This would be totally useless. 5% baseline cuts every year until we have a cushion to pay down the national debt.