The GOP Plan?
From the NYTimes: "In a letter signed by Speaker John Boehner and six other House leaders, Republicans didn’t even bother to assemble their own package of spending cuts and revenue increases; they did a simple copy and paste of a few proposals made extemporaneously at a hearing last year by Erskine Bowles, the Democratic co-chairman of a deficit reduction committee.
The proposal, which Mr. Bowles quickly disavowed on Monday, purports to raise $800 billion in revenue over a decade by ending deductions and loopholes, while allowing the Bush-era tax cuts for the rich to continue. It would cut $1.2 trillion in spending, half of which would come from Medicare, Medicaid, and other health programs, including an increase in the Medicare eligibility age to 67. Another $600 billion would be cut from other unspecified spending. "
"House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the President nothing more: no extension of the debt ceiling, nothing on unemployment, nothing on closing loopholes.
Congress would recess for the holidays and the president would face a big battle early in the year over the debt ceiling. A top GOP House leadership aide confirms the plan is under consideration, but says Speaker Boehner has made no decision on whether to pursue it.
Under one variation of this Doomsday Plan, House Republicans would allow a vote on extending only the middle class tax cuts and Republicans, to express disapproval at the failure to extend all tax cuts, would vote “present” on the bill, allowing it to pass entirely on Democratic votes." --h/t dailykos
Be careful, Republicans, what you plan for in this game. The American people support President Obama. Elections have consequences:
"How dare he? President Obama, I mean: How dare he do what he promised during the campaign? How dare he insist on a “balanced approach” to fiscal policy that includes a teensy-weensy tax increase for the rich? Oh, the humanity." --Eugene Robinson