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GOP Leadership Responds to Obama’s ‘Fiscal Cliff’ Offer: No Thanks

Nov. 29, 2012 6:02pm

President Barack Obama on Thursday offered a budget deal to avoid the impending “fiscal cliff” that calls for a “$1.6 trillion tax increase, a $50 billion economic-stimulus program and new power to raise the federal debt limit without congressional approval [emphasis added]” in exchange for some $400 billion in cuts to “be worked out next year” (with no guarantees), the Wall Street Journal reports.

Unsurprisingly, GOP leaders responded to the president’s offer with a resounding [paraphrased], “No thanks.”

The Obama White House has taken a “step backward, moving away from consensus and significantly closer to the cliff, delaying again the real, balanced solution that this crisis requires,” said Senate Minority Leader Mitch McConnell (R., Ky.) in a written statement released by his office.

McConnell also reportedly “burst into laughter” as Treasury Secretary Timothy Geithner outlined the plan. The Republican said he didn’t laugh to be rude, but he couldn’t help it.

The WSJ offers more details:

The proposal, offered by Treasury Secretary Timothy Geithner as he made a round of meetings with congressional leaders in the Capitol Thursday, calls for increasing tax rates on incomes over $250,000, a one-year postponement of looming spending cuts in defense and domestic programs, and some $400 billion in savings over 10 years from Medicare and other entitlement programs.

[…]

The White House offer in some sense amounts to a formal start of the negotiations, which could take many twists and turns before any possible deal is consummated. The White House didn’t have an immediate comment.

For his part, Speaker John Boehner (R-Ohio) was definitely displeased with Geithner’s offer and made no attempt to hide this during a press conference on Thursday afternoon.

“All eyes are on the White House, the country doesn’t need a victory lap, it needs leadership,” said Boehner on Thursday afternoon. “No substantive progress has been made between the White House and the House in the last two weeks.”

The way things stand now: GOP leadership won’t bend on taxes until entitlement reform is on the table and Democrat leadership won’t talk about entitlement reform until Republicans bend on taxes.

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This story has been updated.

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Comments (104)

1 2 3
  • Chromo200
    Posted on November 29, 2012 at 7:20pm

    Sorry the Republican will give in by December 20. Obama will withdraw the following ” new power to raise the federal debt limit without congressional approval” and teh Republican will be salivating that the won the battle
    .
    The Congressmen/women want the free stuff . They don’t want to tell their folks they could not come to a deal.

    No matter how this turns out it will still be the Republican’s fault.

    Report this comment

    Chromo200  
    • Gold Coin & Economic News
      Posted on November 29, 2012 at 8:29pm

      What a JOKE these democrat whiny, free spending, bleeding heart liberals these people are! We get $1.6 trillion in new taxes plus Obama’s $1.3 trillion per year deficits and he offers a measly $400 billion in spending cuts over 10 years. He frickin offers $40 billion in spending cuts every year for 10 years. Don’t make me laugh:
      http://www.youtube.com/watch?v=utUR-QybXKU

      Report this comment

      Gold Coin & Economic News  
    • Obama Been Lauding
      Posted on November 30, 2012 at 5:27am

      I agree with the idea of a 10% tax cut, for Middle Class, as Mark Levin proposed.

      There is something of an evilness, with the Progressives in charge.
      If I didn’t know any better, I would say that Harry Reid might have anonymous sources saying that Obama is “The Great Deceiver”.
      Notice how everyone is falling on their swords, to protect Obama!!!

      Report this comment

      Obama Been Lauding  
    • sacwoodpusher
      Posted on November 30, 2012 at 7:59am

      I believe the cliff looks pretty good. Let the fiscal cliff happen first, and then, let Obama agree to middle class tax cuts…….but keep the cliff’s

      Report this comment

      sacwoodpusher  
    • historyguy48
      Posted on November 30, 2012 at 9:02am

      The entire banking system currently in use, along with the debt based monetary system, is nothing but a scam anyway.
      America’s debt is in the $134-164 trillion range, more money than exists in the entire world.
      Derivative betting alone is in the $640-1000 trillion range, and there is always a winner and a loser, which is more money than every asset on this planet is worth, actually several times what they are worth.
      As expected the current financial system is about to run into the immovable fiscal wall and will then collapse. Why do you think the bankers have been pushing the soon to be announced (December) One World Government and the One World Currency?
      Simple, this way they can keep the entire world as their debt slaves.
      Read Ellen Browns book “Web of Debt…” Learn the truth about money and our banking system and how easily we could repair this mess. Of course, Dear Leaders principle task is to make sure we do not repair this mess.
      Read Nathan Hales excellent novel “Death of Civilization; the Apocalypse Begins” and find out what will probably happen if they lose control of the collapse and why they are treading so very carefully while collapsing the dollar.

      Report this comment

      historyguy48  
  • Diane TX
    Posted on November 29, 2012 at 7:12pm

    What the …? Obama wants “new power to raise the federal debt limit without congressional approval”. I hope that the morons in Congress won’t let happen. Why would we even need a Congress at that point?

    Report this comment

    Diane TX  
    • Magyar
      Posted on November 29, 2012 at 7:49pm

      Diane, you hit he nail on the head. It is the Progressive’s goal to disavow the Constitution and eliminate Congress–and then create a dictatorship and sing Kumaya with Castro and Chavez.

      Report this comment

      Magyar  
    • barber2
      Posted on November 29, 2012 at 9:17pm

      DIANE: Agree. Hope these elected representatives actually know the constitution and their appointed responsibilities to uphold it. Frightening when you realize that the dumbing of America since the 60s is now affecting our elected officials, the very people who are supposed to protect us. We have become a third world, ignorantly dependent country because of all of the goofy legislation and the PC crapolla spread of the last 60 years. Sad for all patriotic Americans. Of all faiths and all colors. Sensible poor and minority parents want the best for their kids. In the best schools with good results. This is not an economic issue. This is a values issue. The Democrats play it for politics since the party is now controlled by the Far Left International atheistic wing. They are a ” new” and strange bunch with a very different / “new” set of values. New like Lenin. New like Marx. New like collapse of the USSR. New like old. New like doesn’t work !

      Report this comment

      barber2  
    • DadRocked
      Posted on November 29, 2012 at 9:28pm

      Why would he even bring it up?
      “new power to raise the federal debt limit without congressional approval”

      Just another sign of what most of us had already knew… while back in ’08, others were asking why and what do we have against him.

      With a president even bringing this up and a congressman wanting to change the 1st Amendment…

      Keep the powder dry folks…

      Report this comment

      DadRocked  
    • BODYBAG
      Posted on November 29, 2012 at 9:46pm

      Best thing that could possibly happen at this point —— House GOP crosses its arms
      and walks away with these departing words: “Go F yourselves”

      Let’s call their bluff and let it all go over the cliff. Barry the Marxist Boy-King can deal
      with the fallout for the next 4 years with 9%+ unemployment, another downgrade or 2,
      market crash, recession, etc.

      It needs to happen anyway. Hit the RESET button already and lets get it on.

      Report this comment

      BODYBAG  
    • Steel
      Posted on November 29, 2012 at 11:13pm

      What in heaven’s name makes you think we need congress now?

      Report this comment

      Steel  
  • Helpful
    Posted on November 29, 2012 at 7:06pm

    Republicans, Stand your Ground, Don’t Back down to Obama’s Threats. We have always been the party of Low Tax’s. If they won’t continue the Bush Tax Cuts to everyone, then we are ready to weather the Storm. Then Obama will get the Blame for increase of Tax’s. Let everyone pay their share .

    Report this comment

    Helpful  
    • truthnstuff
      Posted on November 29, 2012 at 7:13pm

      Yes! And then they should introduce a bill to reduce the middle class intermediate tax rates and let the Dems reject it.

      Report this comment

      truthnstuff  
  • eyestoseeearstohear
    Posted on November 29, 2012 at 7:06pm

    The GOP needs to go for a $1.6 TRILLION CUT IN SPENDING – which probably
    could be collected from ALL THOSE IN THE ROOM WHO OWE TAXES…

    tell them “Good Luck” on getting money for ANOTHER WASTED Economic Stimulus
    and a BIG HELL NAW on power to RAISING Federal Debt limit WITH OR WITHOUT
    Congressional Approval….

    THEN…
    Tip their hats…wish em’ a Merry Christmas and a HELLAVA New Year …AND WALK!!

    It’s THE DEMS BABY…let them take care of it!

    Either THE DEMS make some SERIOUS CUTS IN SPENDING.AND LIMITED POWER
    TO DO ANYTHING WITH OR WITHOUT CONGRESS APPROVAL…OR WE ALL GO HOME.

    And, the GOP should be prepared to fight, block EVERY counter the Dems put forth.
    The DEMS & Barry have become a threat to our Financial Security, don’t you think?

    Report this comment

    eyestoseeearstohear  
  • dsind
    Posted on November 29, 2012 at 7:04pm

    Question…………..do bills that raise revenue have to originate in the House?
    Does Obamacare’s “Tax” fall in that category?

    Report this comment

    dsind  
  • Sidhekitten
    Posted on November 29, 2012 at 6:58pm

    Wouldn’t it be nice if we had a Speaker that would pull a Dave Chappelle on the President and the Cadaver (Harry Reid). You know, “I’m the Speaker of the House BITCH!”. Sadly what we will see is bunch of crying.
    Now in several amazing moments, McConnell seems to be letting his distaste for El Presidente show a bit. You have to get through Senate Speak, but he clearly does not think much of the Obama. Now do I think it will help, no. But at least he won’t cry though the Speech like the Speaker will when he gives O what he wants. Take your moments where you can folks….

    Report this comment

    Sidhekitten  
    • Jenny Lind
      Posted on November 29, 2012 at 8:54pm

      You know, Bonnie is only ONE vote, he has to get everyone, or at least a majority to either spend the money we do not have, or stop it. Please God, let them all get a set.

      Report this comment

      Jenny Lind  
  • Banter
    Posted on November 29, 2012 at 6:54pm

    Let it go John, we need to hit rock bottom. You and everyone in DC are a bunch of clowns putting on a circus for sheep. Let the looters who voted for free stuff reap the results. It has to end sometime, better to take the pain now.

    Report this comment

    Banter  
    • The_Jerk
      Posted on November 29, 2012 at 7:02pm

      Exactly. Proves that they are no different. But, be ready. These Bolshevik progressives have a plan. And, they have learned from the mistakes made in 1917 Russia.

      http://en.wikisource.org/wiki/Zionism_versus_Bolshevism

      Report this comment

      The_Jerk  
    • mcsledge
      Posted on November 29, 2012 at 7:06pm

      Well put. If they give in now, they will forever be on the losing end until the system crashes and resets itself.

      Report this comment

      mcsledge  
    • madvlad
      Posted on November 29, 2012 at 9:16pm

      I agree. It’s sliding over the cliff anyway. Just vote “present” and let ‘em have what they want. As Limbaugh said, don’t put your fingerprints all over it. And when it crashes, and it will-American Communists are no smarter than the Russian ones were, many many people will see just who wrecked the country. 100 years of creeping progressivism will be swept away by this moment of frosty revelation.

      Report this comment

      madvlad  
  • The-Monk
    Posted on November 29, 2012 at 6:43pm

    Well, this proves that the progressives want to destroy America.

    This failure will be all on progressives and Obama’s head.

    Report this comment

    The-Monk  
  • drphil69
    Posted on November 29, 2012 at 6:43pm

    ROTFL – Obama’s “offer” = give me tax increases on the wealthy, no spending cuts, and no spending limit… (he needs to bankrupt the country – literally, causing hyperinflation, before 2016. This would cause mass riots… lead to martial law… and his dictatorship… temporary, of course… for the good of democracy, of course.. his model being Morsi.)

    Report this comment

    drphil69  
    • eyestoseeearstohear
      Posted on November 29, 2012 at 7:10pm

      @ DRPHIL69

      You’re right. THIS is exactly what he plans to do and giving himself the same
      seized power, as Morsi. I pray we don’t let this happen.

      Report this comment

      eyestoseeearstohear  
  • karen162
    Posted on November 29, 2012 at 6:34pm

    Of course the GOP will cave. The Dems and GOP are for the most part…on the same side. Boehner is no leader. Cantor is no leader. We have no real leadership and we are not being represented. These people will only represent themselves.

    Report this comment

    karen162  
  • foxrocks
    Posted on November 29, 2012 at 6:34pm

    Mark levin has a great idea, Let the house propose a 10 percent tax cut for the “middle class” earners, and throw the ball back to Reid and Obama. If they say no, then they take the blame for screwing the middle class out of a tax break…………..The House still has the majority, last I looked, so they should NOT cave in to these morons. Dirty Harry, how did you make all that money on your salary? oops Kickbacks, just like Nancy………

    Report this comment

    foxrocks  
  • justangry
    Posted on November 29, 2012 at 6:32pm

    Just shut down the beast. It isn’t doing me any favors.

    Report this comment

    justangry  
  • Isis79
    Posted on November 29, 2012 at 6:30pm

    Obama’s plan of destroying America keeps on going while Amerikan traitors cheer him on. Nothing will change until real Americans who understand freedom are willing to take to the streets and give up their lives for freedom in challenging authority with bodily harm. It seems politicians know we are too weak in mind and spirit to do anything about it. Ask yourself if you are part of the problem or if you are willing to be a part of the solution.

    Report this comment

    Isis79  
  • KangarooJack
    Posted on November 29, 2012 at 6:28pm

    I’m just so sick at the moment. Yes, I did visit the My2k Obama thing….OH, the pity party is just growing. ‘I need that $2000 for diapers/pay off student loans/live/food….’ It got even BETTER when I went on FB to my Senator. Oh, the pity-party just runs over the plate. I think, did they JUST wake up or what? It just gets better-absolutely NO CONCEPT of running a budget. It’s like the “United States” is a perpetual ATM…just spits out $$$.
    THIS FROM PEOPLE WHO DON’T PAY ANY INCOME TAXES!!!!!!!!!!!! Hold Fast Republicans/Tea Party/American Tax Payers….HOLD FAST! Let it happen.

    Report this comment

    KangarooJack  
    • BIGNINTHENORTHWEST
      Posted on November 29, 2012 at 9:55pm

      It’s not just $2,200 in average tax increases…. Its another $2,000 per wage earner in reinstated FICA taxes, the impact of the Alternative Minimum Tax, the 3.8% excise tax from Obummercare, increased inflation due to the continued printing of money, and the potential to LOSE our 401 Ks to the Gubbermint so that they can guarantee us a whopping 3% plus inflation plus a flat $600 per year instead of an annual tax deduction for contributing and some decent returns that we manage… The CLIFF is a freakin’ GORGE

      Report this comment

      BIGNINTHENORTHWEST  
  • DougHuffman
    Posted on November 29, 2012 at 6:24pm

    Man up. Take the pill now. Better now than at the point of a Chinese sword-bayonet-pen. This is for what y’all voted. “From my cold, dead hands” works for me.

    Report this comment

    DougHuffman  
  • gyro
    Posted on November 29, 2012 at 6:22pm

    quote
    new power to raise the federal debt limit without congressional approval
    =====
    remind you of egypt?

    Report this comment

    gyro  
  • Geopatriot
    Posted on November 29, 2012 at 6:22pm

    Nothing new here….move along. Let’s face it, Obama and his clowns want nothing more than for the economy to go over the cliff. Let’s not lose sight of what Obama’s goal reall is. His administration never addresses the 16 trillion dollar deficit that is hanging over our head. But of course there is no spending cuts or tax reform now. No no! that comes later. More lies!

    Report this comment

    Geopatriot  
  • Mutiny
    Posted on November 29, 2012 at 6:21pm

    The GOP will cave like they always do. The ones who dont cave will be called crazy, loons, and dangerous. We are in this situation because most of the GOP caved on the debt ceiling deal the first time.

    The GOP will not win supporting bad ideas or kicking the can down the road. Its time to face reality.

    Report this comment

    Mutiny  
    • DougHuffman
      Posted on November 29, 2012 at 6:25pm

      The GOP is the right wing of the American Progressive Ruling Class – see Angelo Codevilla’s America’s Ruling Class — And the Perils of Revolution.

      Report this comment

      DougHuffman  
    • The_Jerk
      Posted on November 29, 2012 at 6:26pm

      Mark R. Levin had the best idea. Give an across the board 10% tax cut to the middle class. Dems will never go for that. Then, the Re-pubic-ans can argue that they are standing up for the middle class. Take the argument.

      Report this comment

      The_Jerk  
  • barber2
    Posted on November 29, 2012 at 6:21pm

    Well, Obama wants to ” change” ( wink, wink ) American capitalism . Guess going over the cliff would be a great start . How DID this 60s Far Left Chicago radical guy ever get droned in here ? Wait. I think I know. Our Manchurian candidate …

    Report this comment

    barber2  
  • kdshell1
    Posted on November 29, 2012 at 6:20pm

    It sounds like the House should (once again) pass a budget, this time with real spending cuts and tax rate (and deduction) adjustments that are acceptable to them and then send it to the Senate. Boehner should then dismiss the House membership until they get a specific vote from the Senate or Senate version of their own for consideration.

    Report this comment

    kdshell1  
  • Snowleopard {gallery of cat folks}
    Posted on November 29, 2012 at 6:18pm

    Obama is getting ready them for a final grab for absolute power. Now he will use executive order to raise the debt limit and there will be no stopping him from being a dictator.

    Report this comment

    Snowleopard {gallery of cat folks}  
    • madvlad
      Posted on November 29, 2012 at 9:20pm

      Then the military may have something to say about that. They swore an oath to defend and protect the Constitution, not His Lordship.

      Report this comment

      madvlad  
  • dalebrendan
    Posted on November 29, 2012 at 6:15pm

    I almost think it may be better for us to go off the “fiscal cliff”. Maybe we should take our medicine now and heal sooner, instead of taking it later and staying more sick longer.

    As far as I can see, with a 16+ trillion dollar debt and every American owing the government over $50,000 each. …we have already gone off the fiscal cliff.

    It seems to me, especially after this previous election, that the end game only has to results: America defaults on it’s debt and destroys the dollar. The citizens are hit with a ridiculous bill and there are riots in the street par Greece.

    Report this comment

    dalebrendan  
    • Mutiny
      Posted on November 29, 2012 at 6:23pm

      That is basically what Ron Paul said. Its going to happen, the faster we handle it the easier it will be. The GOP have proven their weakness by not sticking to their guns and forcing real spending cuts. That is the only solution. Tax increases will only make things worse. If the GOP play hard ball, the country in the long run will be better off.

      Report this comment

      Mutiny  
  • Apple Bite
    Posted on November 29, 2012 at 6:11pm

    Republicans would be wise to walk away from the table and not vote at all, than to vote no. It’s important not to leave a finger print at the crime scene. The Liberals are ready to go over the cliff regardless of the outcome and they won’t even attempt to come up with a reasonable solution to the problems this country is faced with. They asked for this crap, let them deal with it. But don’t touch a damn thing the Libs have laid their hands on, or else they too will become accomplices of the Suicide/Homicide pending.

    Report this comment

    Apple Bite  
    • hatchetjob
      Posted on November 29, 2012 at 6:18pm

      Sounds like a good plan to me.

      Report this comment

      hatchetjob  
    • Strait Talk Express
      Posted on November 29, 2012 at 6:22pm

      This is all really legal, right? I don’t get what you are saying about fingerprints and crime scenes and all that talk about crime. We are doing the right thing, right, legal too, right? No fear. I have no fear either. Right?

      Report this comment

      Strait Talk Express  
    • Apple Bite
      Posted on November 30, 2012 at 2:32am

      Yes, it’s legal. It’s pretty much what happened with Obamacare, except they actually voted against it. And the Libs, used that against them, because they were on record for being against it, hence my use of the word “fingerprints”. They left a trail (record) that lead back to them and their position.

      Report this comment

      Apple Bite  
  • TROLLMONGER
    Posted on November 29, 2012 at 6:11pm

    The Retublicans are taking this country further into the gutter. They need to become obsolete ASAP!!!

    Report this comment

    TROLLMONGER  
    • RightUnite
      Posted on November 29, 2012 at 6:27pm

      Bring it you freaking beotch!

      Report this comment

      RightUnite  
    • Rothbardian_in_the_Cleve
      Posted on November 29, 2012 at 6:29pm

      If they’d just sit down and shut up an army of government goons could go around with guns and force people to work and steal what they produce in order to spend it on themselves and give some leftovers to the proletariat in order to buy political favor. For what they can’t afford they could just print more money thus stealing more wealth and purchasing power from the underclass. For the rest, they’ll just take it from unborn generations and welcome them into the world as slaves/serfs.

      We could have that one party Democratic vision and it would be so awesome!!!!!

      Report this comment

      Rothbardian_in_the_Cleve  
    • AvengerK
      Posted on November 29, 2012 at 6:29pm

      That’s right TROLL…how dare they not embrace tax and spend..tax and spend..tax and spend like you lefty dolts as we become the basket case Greece is. Look at Barry…he wants another stimulus and wants to take away the power of the purse strings from Congress and those vile, evil, subhuman republicans still cling to that outdated constitution. Blech…..They make me sick with their non-stop..”cut government spending” schtick. We can spend all we damn well want to if we keep taxing rich guys..right TROLLEY old sport? Let’s hear a hooray for more taxes and more spending.

      Report this comment

      AvengerK  
    • MFHorn3
      Posted on November 29, 2012 at 6:35pm

      TROLLMONGER, you are absolutely correct. The Republicans just need to go away and leave everything in the hands of the Democrats.

      Report this comment

      MFHorn3  
    • AvengerK
      Posted on November 29, 2012 at 6:55pm

      MFHORN…you’re being way too subtle for a dullard like TROLLMUNCHER. You need to spell it out for him.

      Report this comment

      AvengerK  
    • mcsledge
      Posted on November 29, 2012 at 7:11pm

      Trollmonger – ignorance must be bliss in your world. Although many GOP are two steps from being Democrats they are still in a position to keep America from imploding.

      Report this comment

      mcsledge  
    • Baerlin
      Posted on November 29, 2012 at 7:21pm

      All hail the mighty and worthy Trollmonger. Your wisdom is so great that there is truly nothing left to say………Please share more of these wise tidbits so that we may all be so like you…….Let us all sit at your feet and worship…..Whoa!!!!Wait!!!!That was the brown acid wasn’t it?

      Report this comment

      Baerlin  
    • progressiveslayer
      Posted on November 29, 2012 at 7:23pm

      You pole puffing parasite you stumbled onto the truth,even a blind squirrel finds a nut once in a while.
      Yes simpleton the R’s need to be replaced with constitutionalists,Americans who govern within the bounds of the constitution and know they are the servants and not the masters.

      Report this comment

      progressiveslayer  
    • DougHuffman
      Posted on November 29, 2012 at 7:23pm

      The GOP is obsolete. The GOP is the right wing of the American Progressive Ruling Class — see Angelo Codevilla’s America’s Ruling Class — And the Perils of Revolution. Only The Constitution Party represents our Country Class conservatives.

      Report this comment

      DougHuffman  
    • TROLLMONGER
      Posted on November 29, 2012 at 8:13pm

      I love getting the old right wing nuts riled up! It makes me happy…LOL!

      Report this comment

      TROLLMONGER  
  • Rothbardian_in_the_Cleve
    Posted on November 29, 2012 at 6:11pm

    The entire lot of these people should be arrested and tried for treason, embezzlement, and racketeering. Absolutely disgusting what transpires in this country out in the open by playing on the collective stupidity of the sheeple. The transfer of wealth and power to the oligarchy through the tax system, the entitlement system and monetization is nothing short of the largest heist that mankind has ever seen. Cortez had to shoot the natives to get the gold. These A-holes have actually convinced people to vote for them to then enslave them. You can’t make this stuff up.

    Report this comment

    Rothbardian_in_the_Cleve  
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