Friday, December 21, 2012

Plan B Bombs

From the Washington Post:

House Speaker John A. Boehner threw efforts to avoid the year-end “fiscal cliff” into chaos late Thursday, as he abruptly shuttered the House for the holidays after failing to win support from his fellow Republicans for a plan to let tax rates rise for millionaires.

The proposal — Boehner’s alternative to negotiating a broader package with President Obama — would have protected the vast majority of Americans from significant tax increases set to take effect next year. But because it also would have permitted tax rates to rise for about 400,000 extremely wealthy families, conservatives balked, leaving Boehner (Ohio) humiliated and his negotiating power immeasurably weakened.

No one could say late Thursday what will happen next. Just 11 days remain until the new year, when more than $500 billion in automatic tax increases and spending cuts will begin to take effect, threatening to undermine the sluggish recovery and prompt a new recession.

It seemed like a good idea at the time.  Right?

My guess is that John Boehner is in deep shit, and I’ll be surprised if he’s still Speaker on January 3 when the new House is sworn in.

For him, maybe the Mayans were on to something.

5 barks and woofs on “Plan B Bombs

  1. They are eating each other. The tea party Republicans are killing the party. Obama and the Democrats are the only grown ups left in DC.

  2. I read that the Heritage Foundation’s action arm was strong-arming members of Congress all day yesterday urging them to vote nay on Boehner’s “plan”. Seems it wasn’t restrictive enough and too easy on the poor and unemployed and their hungry children, the takers. So now they get the fruit of their labors and I’ll bet come February they REALLY won’t like the outcome because the Democrats will put forth a rescue and the frightened Republicans will accept it. Happy New Year.

  3. I wonder whether this wasn’t the plan all along: let the sequestration kick in, let the tax cuts expire, and then negotiate something so that everyone looks good (or at least not as bad as they might). OTOH, the Teahad didn’t want taxes adjusted upward for anyone – well, at least anyone who is already paying those taxes – and seemed convinced in their fevered dreams that they could persuade the rest of us of the desirability of maintaining the current tax rates (or lowering them further), so getting them to line up for almost anything else is a pointless exercise.

    • Exactly. Why compromise, just makes you look weak. Heck, just let the economy crater, makes sure 2014 or 2016 will go their way. They’re rich, they can wait it out. Boehner is Ali, playing rope-a-dope.

  4. John Boehner’s back is so full of GOP knives that I’m surprised he didn’t bleed to death during his TV announcement. Ah, the ever grinning, ever smirking Eric Cantor.

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