What's the budget deal going to be?

[Yossarian]

Call me a cynic but I say more of the same. Fake threats to use the debt ceiling as leverage followed by ever increasing deficits. More myopic attempts to crush growth with tax increases. You have to look for the humor....


Obama's 'Grand Bargain' With Obama


In Chattanooga on Tuesday, the latest stop on his economic inequality tour, President Obama made himself an offer he couldn't refuse. If Congressional Republicans agree to a corporate tax increase, he said, then he'll agree to spend more money on his favorite public-works projects. If Republicans bargain hard, will he also offer an expansion of ObamaCare as a sweetener?

We know this sounds like an exaggeration, but that's the essence of what the President proposed as what he called a new "grand bargain." Mr. Obama will agree to reform the corporate tax code—a GOP priority and one even the President claims to support—but only if the reform raises more revenue and only if he is allowed to spend that windfall on his priorities.

A White House press release clarified that the President would also like to raise taxes on individuals, not just businesses, while allowing federal spending to rise still higher. But showing they retain a sense of humor in the West Wing, the press release suggests that the President is willing to forgo this tax increase for now because he wants to "work with Republicans."

This isn't a serious proposal, and he knows it. It also isn't bipartisan, since he is offering a compromise with appeal to the ideological spectrum running from Elizabeth Warren to Chuck Schumer.

http://online.wsj.com/article/SB10001424127887323854904578638043969528444.html?m od=hp_opinion

[bUU]

And the fact that those you like in Congress think like you is probably the reason nothing actually gets done. Funny how things work out eh?

[Gregg]

I'd like to see Elizabeth Warren to Chuck Schumer on the bargaining table. Otherwise I predict another budgetless year under the regime.

[Rogar]

It really doesn't sound like anything new, so the outcome is pretty predictable. My take is different from the WSJ editorial. I understand he proposes to reduce the corporate tax rate from 35% to 28% and 25% for manufacturing. In exchange he wants more spending on education. And job creation on public works projects that would have some focus on infrastructure. I imagine this would be some sort of stimulus like package.

[ApatheticNoMore]

No deal means Obama doesn't get his way with taking the axe to Social Security this year, I'm sure he hopes to gut the program before he gets out, the dude is persistent.

As for the new "grand bargain" (the last one was to slash social security), well at least this one is mostly harmless, but it's also mostly a gimick, all the spending is just a one time thing as far as I've heard. Thought there might be one time investments that could make a difference (oh I'd recommend how about massive investment in alternative energy?), what are the chances? Really, what's even the point?