Republicans might accept a “mini” deal with the Obama administration on raising the debt limit, Senator John Cornyn of Texas, a Republican leader, said yesterday on “Fox News Sunday.”
The idea may delay politically difficult decisions if it’s structured to postpone action on a larger package of spending cuts or revenue increases until after the 2012 election cycle, an analyst said.
“What we’ve been calling for is to have a down payment that’s as big as possible,” Marc Goldwein, former associate director of President Barack Obama’s debt commission, said yesterday in an interview.
Even so, the White House rejected a short-term extension of the debt limit, deputy communications director Jen Psaki said.
“The president has consistently said it is in the country’s economic interests for Congress to reach common ground on a significant long-term deficit reduction package,” Psaki said in an e-mail. “He has been clear in conversations with leaders in both parties about that.”
That's just the problem: Republicans have no intention of reducing the deficit. They want to reduce spending, but reduce taxes even more, increasing the deficit. That's spelled out in the GOP budget plan, the elimination of as many non-defense and non-health care/Social Security functions as possible while eliminating taxes on corporations and cutting them sharply on the wealthy.
Besides, what makes anyone think the Republicans in the House will accept this? They want 100% of their demands or they destroy the economy. It really is that simple. Cornyn and Senate Republicans can talk about all the deals they want, but the House GOP would rather see unemployment double and blame Obama when a default throws us into a depression.
Too little, too late, John.
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