Boehner says debt limit should be part of talks

House Speaker John Boehner insisted on Friday that any deal with President Barack Obama to avert the so-called fiscal cliff must include lower tax rates, eliminating special interest loopholes and reining in government-benefit programs.
Associated Press
Nov 10, 2012

"2013 should be the year we begin to solve our debt through tax reform and entitlement reform," Boehner said.

Boehner and Obama have taken the initial steps in high-stakes negotiations over how to deal with expiring Bush-era tax cuts and automatic spending cuts to defense and domestic programs that economists warn could plunge the nation into another recession.

Boehner, Obama and Senate leaders face a Jan. 2 deadline to reach an agreement or at least come up with a framework to deal with the issue early next year.

Boehner expressed a degree of optimism about resolving the issues and ensuring that his sometimes reluctant GOP rank and file will back any deal.

"When the president and I have come to an agreement, there's been no problem getting it passed in the House," Boehner said.

The speaker declined to discuss specifics on deficit targets or what tax loopholes to eliminate though he cited both corporate and individual.

"I don't want to box myself in. I don't want to box anyone else in," he said.

Boehner indicated that increasing the nation's borrowing authority, which was a divisive issue in August 2011 talks, should be part of any talks in the coming weeks on avoiding the fiscal cliff. The government has said the nation won't reach the debt limit until the spring.

"It's an issue that's going to have to be addressed, sooner rather than later," he said.

Boehner said he had a brief, cordial conversation with Obama earlier in the week and reiterated that the president needs to lead on the negotiations.

Democrats have resisted including entitlement programs such as Medicare and Social Security in any deficit-cutting deal. Senate Majority Leader Harry Reid, D-Nev., said earlier this week they were unwilling to make changes in Social Security.

Boehner insisted that the programs need to be on the table.

"It's not like there is money in Social Security and Medicare" trust fund, Boehner said. "This has to be dealt with."

The Ohio Republican, reflecting the sentiment of his caucus, said increasing the maximum 35 percent tax rate on high-income earners cannot be part of the deal. Boehner did signal that he was open to eliminating loopholes.

"The problem with raising tax rates on wealthy Americans is that more than half of them are small business owners," Boehner said. "Raising tax rates will slow down our ability to create the jobs that everyone says they want."

The Republican leader acknowledged that his party faces several roadblocks after Obama won a second term and the GOP lost seats in both the House and the Senate.

"It's clear that as a political party we've got some work to do," he said.

Republicans fared poorly with Hispanic voters. The fastest growing minority group went heavily for Democrats, backing Obama by more than 70 percent. Boehner signaled a willingness to tackle immigration legislation next year.

"What I'm talking about is a common sense, step-by-step approach, would secure our borders, allow us to enforce the laws, and fix a broken immigration system," he said. "But again on an issue this big, the president has to lead."

 

Comments

KnuckleDragger

People like Pastor Ron are all for the IRS and the thousands of loopholes that allow THEM to avoid taxes. But, all he!! be darned if someone rich takes advantage of them despite the fact that millionaires like Romney paid more in total taxes in one year than Pastor Ron has made in his lifetime. Why don't you take a look at the percentage in taxes Harry Reid and Nancy Pelosi paid last year? Both paid at a 15% tax rate. I guess it is just fine if they're a Demakook.

John Harville

Did he break any law? We dunno. He won't release his tax records. Although we did find out Reid was right that Romney didn't pay any taxes for 15 years because he 'rented' his church's non-profit status - which was entirely legal.
Bet Romney's tax accountants already are busy filing an amended returnto claim that other $2 million in contributions so he can knock his rate down further and pay no taxes.

Contango

Rumor:

By dictate, Mr. Obama will raise the Federal debt ceiling and say to Congress: See you in court.

----------------------------

Due to the govt.'s excessive debt and money printing, our fiat currency will continue to lose value causing food and other commodities to rise in price.

My advice: Buy gold.

Remember: You will always be able to trade your gold for fiat currency, but you may not be able to trade your worthless fiat currency for gold.

shucks

@ contango

What will you trade gold for?
Food? Yachts?

Contango
JACKEL

All Empires fell after going off The Gold Standard !

verdict

China and Russia are looking at going onto a gold standard, I heard.
BRICS (Brazil, Russia, India, China, South Africa) are looking to form a new reserve currency to replace the dollar, as well. If a new reserve currency is formed, then the Democrats' economic model (requiring the printing of dollars out of thin air) will not only collapse us, it will utterly wipe us out.
Then Russia and China can send the "Occupy the U.S." movement.

Contango

Interesting; the USDA delayed the release of the monthly food stamp numbers until after the election.

Say it ain't so.

http://www.zerohedge.com/news/20...

shucks

@ contango

Yes very interesting, but back to the question-
If paper is useless, what are you going to trade your gold for--food or yachts?

Contango

Don't worry munchkin, Mr. Obama has promised to take care of you. I'll take care of myself and my own.

shucks

You really think your money is going to protect you?
LOL!

(And in true form, you dodged the question.)

2cents

4, that depends on who he chooses to hang out with ;)

Randy_Marsh

"Protect you"? Who will he need protection from other than those who didnt prepare and riot for food and stuff? Gold has been the currency for the last 5,000 years, Pretty sure it will still hold its worth more than paper. (For protection im pretty sure people who are smart enough to buy physical gold are armed)

shucks

No, I did not mean in the sense breaking in and stealing.

2cents

Thats good! LOL look out for the black tips.....

http://50bmgsupply.com/images/AP...

shucks

yeah, I used to shoot them.

Randy_Marsh

4shizzle
Then what did you mean? Gold retains its value as it is used in almost everything these days, Paper on the other hand is good for.. Well it was used as wall paper in weimar at one time.

shucks

see below

shucks

marsh

Hypothetically,if you were shipwrecked on an island, lost in the woods, in the desert, what would you rather have? a bag of food or a bag of gold?

2cents

(if you were shipwrecked on an island, lost in the woods, in the desert)

Gold for sure! Semi soft it can be worked.

Shipwrecked, I would pound it into a spearhead and catch fish to eat, pound some more of it into a reflector to concentrate the sunlight and start a fire or signal a passing ship or plane and if they showed up pay off the captain for a ride and a first class stateroom.

Lost in the woods, I would again pound it into a reflector to signal a searching helicopter, if need be another spearhead then throw some pieces into a stream so a thousand miners would show up to save and steal from me!

In a desert, I would again pound it into a reflector, the heck with a spear but maybe a shovel head to dig for water and pray that an Arab would wonder buy so I could buy a camel from him.

Give a man a fish!!
LMAO

shucks

Hmmmmmmmmmmmmmmm,very resourceful.

Contango

@ 4shizzle:

"Money" is merely used as a medium of exchange and can take a variety of forms.

The stupidity of your limited choice fallacy question garnered the response it deserved.

shucks

@ sandusky register

oops sorry

Contango

@ 4shizzle:

Have a good day sunshine.

shucks

.

abigbear

when the rich run out of money for bho to redistribute the bottom feeders steal everything the rich owe them we'll be a 3rd world country because the Muslim-n- chief wants his brotherhood family to have all the oil and gas under this ONCE great US

Contango

Pres. Obama:

"I will not ask students or seniors or middle-class families to pay down the entire deficit while people making over $250,000 aren't asked to pay a dime more in taxes."

Did you get that Obamasheeple?

If not, let me help you: He will not ask YOU to "pay down the entire deficit" by yourselves.

What does that mean? Higher taxes.

The "joke" is on you. Are you laughing yet?

http://www.whitehouse.gov/the-pr...

FORWARD SOVIET!

Centauri

"I will not ask students or seniors or middle-class families to pay down the entire deficit while people making over $250,000 aren't asked to pay a dime more in taxes."

Read slowly and carefully and think about what you are reading. There are some key words to pay attention to here. I will translate what I am reading using other words.

""I will ask students or seniors or middle-class families to pay down some of the deficit while people making over $250,000 will be asked to pay a dime more in taxes.""

The Big Dog's back

I can't wait until you start paying higher taxes winnie.

KnuckleDragger

I'll bet you can't, maybe they can double your welfare check. At least then you should be able to afford to move out of your mother's basement.

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