July 21, 2011

WHICH WILL SEPARATE THOSE INTERESTED IN GOVERNING FROM THOSE ONLY INTERESTED IN POLITICS:

Obama and Boehner Close to a Debt Deal, Sources Say (Jay Newton-Small Thursday, July 21, 2011, TIME)

Under the floated deal, $3.5 trillion would be slashed from the budget over the next 10 years, including cuts to entitlement benefits - a key area of contention with congressional Democrats.

In another major concession, no revenue increases would be included in the deal, and George W. Bush's middle class tax cuts would not be decoupled from higher income cuts, as called for in the earlier "grand bargain" worked out by Obama and Boehner. Instead, all revenues would be handled in a second bill, a sweeping overhaul of the U.S. tax code, to be passed before the end of the year.

Democrats worry that the President would be giving away too much in such a deal.


Posted by at July 21, 2011 2:47 PM
  

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