Obama’s Debt Offer? Not So Serious

Barack Obama sent out little Timmy Geithner with the administration’s balanced approach to end the fiscal crisis. As expected, the proposal was laughable.

House Republicans said on Thursday that Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, an immediate new round of stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits.

The proposal, loaded with Democratic priorities and short on detailed spending cuts, was likely to meet strong Republican resistance. In exchange for locking in the $1.6 trillion in added revenues, President Obama embraced $400 billion in savings from Medicare and other entitlements, to be worked out next year, with no guarantees.

Ace’s interpretation was pretty accurate: “Obama’s offer: give me $1.6 trillion in tax increases and an unlimited ability to raise the debt ceiling on my own authority and I’ll give you… nothing in return.”

Frak you, Barry; you’re not my president. Go over the cliff if you want. Let it burn.

9 thoughts on “Obama’s Debt Offer? Not So Serious

  1. AJ Lynch

    Wyatt – most Americans have been broke at some point in their life- you know that period where your bank acct is almost empty and your credit cards are tapped out…you go to fill the gas tank with gas and the attendant says ‘your card was declined”. My point is the country has reached that point but most people don’t realize how dire the situation is – maybe even dopey Obama does not get it – but we will all collectively hear that same message soon “your card has been declined” if we don’t get our act together.

  2. Robert B.

    Prior to our most recent election, there was an ad running by (?) that depicted a couple asking to borrow money from a bank. Their combined income was x dollars per year, they owed about 10x dollars, and they were trying to borrow money for a vacation. The “x” in the example was the national income/debt/decifict divided by a million. A very sobering wake up call to the public, that was promptly ignored.

    1. realwest

      Huh. I don’t recall that particular ad, but it doesn’t surprise me that, being in SO MUCH DEBT, they wanted to go DEEPER into debt to take a vacation.

      There just isn’t any cure for STUPID.

  3. realwest

    Howdy Wyatt! ““Obama’s offer: give me $1.6 trillion in tax increases and an unlimited ability to raise the debt ceiling on my own authority and I’ll give you… nothing in return.” Yep, that’s our Constitutional scholar of a POTUS.

    Boehner and the Republicans will throw it back at him and HOPEFULLY COME UP WITH A REAL WORLD/REAL LIFE Offer of their own (yes, I know this would be the 3rd or 4th time they’ve done that) and say “Reject this or offer a reasonable compromise and YOU will be responsible for going over the cliff.”

    Its strange. Obama thinks he has a “Mandate” based on the 2012 election when in reality he won the popular vote by 2%. Pretty slim mandate there Barry, accept what the GOP proposes or drop dead.

  4. Mike47

    Most people don’t get it. This bum of a president WANTS to collapse the economy. It’s part of the plan, man. Then he can blame the Republicans, who have no clear leader, and they (and the country) will never recover in our lifetime. What does he gain? Power, power and more power. We lost, and there’s no way back.

  5. Dr. Evil

    Some men aren’t looking for anything logical, like money. They can’t be bought, bullied, reasoned or negotiated with. Some men just want to watch the world burn

  6. Wyatt Earp Post author

    AJ – That’s why Obama supporters’ attitudes surprise me so much. If your cards are maxed out, would you double down and keep spending? Of course not!

    Robert B. – That’s because people want free shit; and they think that stuff grows on trees.

    Real – I’m siding with the movement for the GOP to just walk out. Let’s go over the fiscal cliff. Let it burn.

    Mike47 – We already lost; primarily when ObamaCare was passed. The taxes hitting us on January 1st won’t be stopped by these negotiations.

    Dr. Evil – I just wish I had rubies to throw to the poor kids.

  7. Veeshir

    The thing that gets me is all the people acting all surprised that Obama’s a douchetool who’s not interested in doing anything that’s not Chicago-machine politics, far left destruction of the very concept of the United States or to help the Dems/hurt the GOP in an election.

    Doing anything for middle class Americans is last on his last, right after doing anything for the GOP.
    We’re the enemy. We keep wanting to keep our money and shit.

  8. formwiz

    Even McConnell laughed when he heard it.

    We’re going over and, if anybody wondered what Germany in the 30s was like, they’re about to find out.

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