Tim Geithner presented John Boehner with the Obama plan for averting the “fiscal cliff.” According to The New York Times, Obama’s plan calls for $1.6 trillion in tax increases over 10 years, $50 billion in immediate stimulus spending, home mortgage refinancing, and a permanent end to Congressional control over statutory borrowing limits. President Obama would also agree to a goal of finding $400 billion in savings from Medicare and other social programs to be worked out next year, but with no guarantees.(from powerlineblog.comx)
Even Times reporter Jonathan Weisman seemed taken aback by the White House’s position. He described the offer as “loaded with Democratic priorities and short on detailed spending cuts.” As far as I can tell, however, there are no detailed spending cuts.
Appearing on Fox News Thursday, Syndicated columnist Charles Krauthammer called the deal “insulting” and advised Republicans to “simply walk away” from the negotiating table.(from theblaze.com)
“It’s not just a bad deal, this is really an insulting deal. What Geithner offered, what you showed on the screen, Robert E. Lee was offered easier terms at Appomattox, and he lost the Civil War,” Krauthammer said. “The Democrats won by 3 percent of the vote and they did not hold the House, Republicans won the house. So this is not exactly unconditional surrender, but that is what the administration is asking of the Republicans.”
He continued: “This idea — there are not only no cuts in this, there’s an increase in spending with a new stimulus. I mean, this is almost unheard of. What do they expect? They obviously expect the Republicans will cave on everything. I think the Republicans ought to simply walk away. The president is the president. He’s the leader.