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.
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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.