In order to get Republicans on board for a program to reduce the deficit by raising taxes and cutting spending, President Obama has offered to address the high spending growth programs of Social Security, Medicare and Medicaid. This would be part of a bargain with Republicans who would give a little on their issues, namely taxes. And lo and behold Speaker John Boehner has endorsed the bargain.
the speaker offered some hope that the budget process – which begins this week with the expected passage by the House of a spending measure, or “continuing resolution,” to keep the government open for the rest of the year — could still end in a comprehensive agreement that lowers the deficit, overhauls the tax code and undoes at least some of the automatic spending cuts.
Okay, since nobody trusts Republicans, what’s the catch? Oh this.
House Republican leaders are adamant that they want no changes to the tax code – including closing loopholes that both sides agree are wasteful.
Yep that sounds like Republicans alright.