Jesus... 'Obama Seeks Broad Deal On Entitlements, Tax Code In Debt Talks' - LATimes

[WillyT]

Obama seeks broad deal on entitlements, tax code in debt talks
By Lisa Mascaro - LATimes
July 7, 2011, 9:13 a.m.

<snip>

As congressional leaders meet at the White House for debt talks Thursday, President Obama will seek broad changes to Social Security, Medicare and a commitment to overhaul the nation’s tax code in a bold push for a $4 trillion package of deficit reductions, sources said.

Such a large proposal would be greater than the spending cuts GOP leaders have demanded in exchange for their votes to raise the nation’s debt limit, and comes just weeks before a looming deadline. A debt ceiling vote is needed by Aug. 2 to avert what experts say would be a catastrophic upheaval of the financial system if the nation defaults.

Obama’s decision to tackle big-ticket items in a broader deal is politically difficult for all sides and will certainly draw resistance from rank-and-file lawmakers, especially those seeking re-election in 2012. The two sides have been at a standoff for weeks and Obama deepened his involvement this week by pressing congressional leaders “do something big.”

In talks with House Speaker John Boehner, the White House has presented various options. Among those were reforms to all three major entitlement programs--Social Security, Medicare and Medicaid, which is the health program for low income and disabled Americans and seniors.

Among options being considered for Social Security and Medicare, some would hold down benefit increases for current recipients and increase costs for future beneficiaries.

<snip>

More: http://www.latimes.com/news/politics/la-pn-obama-deal-debt-talks-20110707,0,2518005.story

:wtf:

:kick:

[msongs]

1. Obama could start by ending all his wars,,,and they are his now nt

[RaleighNCDUer]

2. OK, maybe I don't get it, but

Why is he extending the 'tax holiday' that pays into SS, while insisting that he wants to 'strengthen' SS?

"Among options being considered for Social Security and Medicare, some would hold down benefit increases for current recipients and increase costs for future beneficiaries."

How does holding down "benefit increases for current recipients" (IOW, COLA) - which effectively reduces the incomes of people on fixed incomes in the face of inflation - strengthen SS?

And isn't there a disconnect between the 'necessity' of the tax holiday, and "increase costs for future beneficiaries"?

How many sides of an issue can he take?

[EFerrari]

3. You do get it, it's doublespeak. n/t

[WillyT]

4. It's Pentangulation...

:evilgrin:

[Cali_Democrat]

5. Boehner just said tax cuts are completely off the table

He's not getting any broad deal on taxes that's for sure.

What pisses me off is how Republicans are negotiating from a position of zero tax increases and 100% spending cuts. Obama is negotiating from a position of 85% spending cuts and only 15% tax increases. :banghead:

Obama has to just flip the Republicans the bird and say FUCK YOU.

[RaleighNCDUer]

6. What he needs to do is remind these congressional millionaires

that if they don't raise the debt ceiling THEY will disproportionately feel the impact of the resultant collapse, as the world bails on the dollar.

Sure, a few peons will lose their lives, but THEY will lose millions.