Mitch McConnell 'Bursts Into Laughter' At Obama's Fiscal Cliff Proposal


Apparently Barack Obama's fiscal cliff proposal is so one-sided, partisan, and ridiculous that Senate Minority leader Mitch McConnell says he "burst into laughter" during the talks on Thursday when Treasury Secretary Tim Geithner explained the Obama administration's proposal to avert the fiscal cliff.

The Weekly Standard reports,

Geithner’s visit to his office left McConnell discouraged about reaching a “balanced” deal on tax hikes and spending reductions designed to prevent a shock to the economy in January. “Nothing good is happening” in the negotiations, McConnell says, because of Obama’s insistence on tax rate hikes for the wealthy but unwillingness to embrace serious spending cuts.

Geithner suggested $1.6 trillion in tax increases, McConnell says, but showed “minimal or no interest” in spending cuts. When congressional leaders went to the White House three days after the election, Obama talked of possible curbs on the explosive growth of food stamps and Social Security disability payments. But since Geithner didn’t mention them, those reductions appear to be off the table now, McConnell says.

This is what I've been saying all along. Neither side has been putting forth real spending cuts. If something has been put forth as a cut, it's always been in proportion to the growth of spending and therefore not a real cut. It continues to grow spending.

In addition the Daily Caller reported that Obama wanted more stimulus and be allowed to control the nation's debt ceiling. Neil Munro writes, "President Barack Obama has dramatically upped his demands in the fiscal crisis negotiations: He wants Congress to levy twice as much in extra taxes from Americans as he urged during the election campaign, give up its control over the nation’s debt limit, and fund an immediate $50 billion stimulus for his political priorities."

"In exchange, Obama offered to consider," Monro wrote, "but not necessarily accept — GOP proposals for cutting $400 billion from Medicare and other programs strongly favored by off-year voters."

Geithner in this case demonstrates that he really doesn't understand economics at all. In an economy that is struggling you don't come in and burden the people with $1.6 trillion in tax increases and not cut spending.

House Speaker John Boehner said in a closed-door meeting on Wednesday, “We’ve staked out a principled position. It’s important that everyone in this room continue to be clear with our constituents about what that position is: We’re fighting for spending cuts. We’re fighting against increases in tax rates that destroy jobs. And we’re fighting for pro-growth tax reform and entitlement reform, the keys to economic growth.”

Well I certainly hope so, though I'm not sure with all the commenting on tossing the tax pledge to the wind by Republicans helps to give me a lot of confidence in just how hard the fight will be. However, I'll wait and see.

According to Democrats that are involved in the process, they realize they will more than likely have to cave to cuts to entitlements in order to make a deal.

A top Democrat official said, “Republicans want the president to own the whole offer upfront, on both the entitlement and the revenue side, and that’s not going to happen because the president is not going to negotiate with himself. There’s a standoff, and the staff hasn’t gotten anywhere. Rob Nabors [the White House negotiator], has been saying: ‘This is what we want on revenues on the down payment. What’s you guys’ ask on the entitlement side?’ And they keep looking back at us and saying: ‘We want you to come up with that and pitch us.’ That’s not going to happen.”

With that said Obama's most recent budget proposal demonstrates that he is unwilling to deal with real spending cuts.

One thing is certain at this point and that is according to Speaker Boehner "no substanitive progress" has been made.

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Comments

comments

  • http://www.facebook.com/lynn.everly.9 Lynn Everly

    I don't blame Senator McConnell for laughing. Humans have been laughing at bafoons and fools since the beginning of man. The bad part of all this is that the harder one laughs the harder the fool tries to make you laugh and pretty soon you can't stop laughing. God help us.

  • Overkill

    If all the workers in the US stopped paying taxes for a month then maybe the government would realize were the money comes from.

  • http://www.facebook.com/wayne.graff.58 Wayne Graff

    Shut the Government down, PERMANENTLY.

  • HotFlight

    To McConnell, Boehner, and all the rest who have had a chance to put a stop to all this bullshit in the last four years...NOW, Your ALL a Joke (But not a funny one) and this is one hell of a time to start acting like you care!!!
    Bob Alexander

  • http://pulse.yahoo.com/_AGGQGPVGUJUMRZUBLH4EAC5LUQ kds

    We need to secede from Obama not America.

  • HadEnuf

    Hey turkey neck, rather than laughing, why don't you balless, tired ole white "Re-PUNK-licans announce to the nation that we have the enemy residing in the Outhouse and call for his impeachment, along with his "Hold(card)er " henchman, for murder - Fast & Furious and Benghazi in which he watched in the present time, the murder of four Americans and did nothing than lied about it! Turkey neck, why don't you tell AMERIKA that we are now living in a DICTATORSHIP! I pray that you and your feckless cohorts grow a pair and start telling the dead Republic what it need's to hear! History is being repeated as the new Hitler cements his POWER and everyone in "Washedupton" is paralyzed with so much fear that the Tyranny continues at warp speed! Either the sheeple start to acknowledge the bare faced truth or face the dire consequences, idiots!

  • Rwolf

    GOP is being extorted by the Communist in the White House.
    The GOP better get smarter and tougher, currently the GOP can't hold its own when dealing with Obama or his Leftists. Time is running out. Obama need only keep repeating that Republicans refuse to increase taxes on the wealthy which is all Obama's illiterate voters
    hear--while blind to knowing or considering other tax and spending cut concerns
    that affect Going Off the Financial Cliff.

  • WAKEUP48

    Only a revolution is capable of overturning this dismal state of affairs.

    • http://www.facebook.com/amfer.ferg Amfer Ferg

      ...or the likes of Sara Palin, Newt Gingrich....the real tough Americans.

  • WAKEUP48

    Prior to the First World War, Congress directly authorized the amount
    borrowed through the Treasury Department, but this was changed in 1917
    to pay for a scheduled war. The increase was termed a debt ceiling. It
    has been raised 78 times since 1917 (in 2001 alone, it was raised an
    astounding 11 times

    • WAKEUP48

      In order to raise the debt ceiling, Congress must enact specific
      legislation that must be signed by the president. Obama now wants to
      raise the debt ceiling and borrow money from the Federal Reserve without
      the approval of Congress or the American people.

  • HappyClinger

    Obviously no one understands economics. If they would cut spending, they would not need to raise taxes. Boehner is careful to say they're fighting to prevent increases in tax RATES, while they are eliminating tax deductions, which will effectively raise taxes, just not the rate. The truth is, they ALL want to increase "revenue" to Washington and be able to say they didn't raise tax rates so they play these games with words. I say, they already get enough of our money and they need to make do like the rest of the country. I've filed a new W4 to reduce my withholding substantially, so they're in the position of having to wait for me to pay them, instead of me having to petition them to return my own money to me. I think we all need to do this.

  • WAKEUP48

    Allowing Obama to unilaterally jack up the debt is unconstitutional.
    Article One of the Constitution assigns the authority to “borrow Money
    on the credit of the United States” to Congress, not the executive.

  • WAKEUP48

    Obama and his banker controllers are taking the power of the purse away
    from Congress. And this is only part of a larger occupation.

  • R.Young

    The Great Black Father in Washington has the "Greatest" Idea on how to solve all the problems faceing the Country. He should not let a Do Nothing Congress stand in his way. Tax, Tax, Tax, Spend, Spend, Spend the Greatest Idea since sliced bread!

  • http://pulse.yahoo.com/_H6YDPAOSKRKSDREHLEQBJWPMAE Val

    Obama is a MADMAN.! He is not capable of holding the office he has held captive for over 4 years.He is Mental !! A VERY dangerous man.

  • WAKEUP48

    Wake Up sheep. Your master is ruining the country and Romney WAS NOT the answer.

  • forwardscout1991

    Why can't the cash cow (money) LEAVING-" being given as foreign aid cough cough" - the U.S. for countries overseas. be cut???????????????? Hmmmmmmmmmmmmmm???

  • WES

    THIS NATION IS ALREADY DOOMED,,UDE TO THE VILA SIN AND CORRUPTION,,PREPARE YOUR SELVES,,ITS COMEING,NO WAY ARROUND IT,,,GET UR HOUSE IN ORDER PEOPLE,,JUDGEMENT IS COMEINGF SOON AND IT WILL BE HARSH,,,,,,,,MARK MY WORDS,ITS COMEING FOR SURE,,WHETHER U BELIEVE IT OR NOT,,,,,,,,,,,,THIS NATION WILL REEP WHAT THEY HAVE SOWN

  • http://profile.yahoo.com/AWQZ3NLQH4AYZPNMM2VIPUT4ZU Chuck

    why don't someone recommend the cuts that paul ryan showed, he reflected a lot of programs that are funder with no need at all.

  • gnafuasusual

    That meeting with Romney must have amounted to absolutely Nothing.

    • http://www.facebook.com/amfer.ferg Amfer Ferg

      I never gave it the slightest notion that it would be productive - o was trying to 'pick his brain'....to no avail. It must have been painful..

  • FSHNT21

    Here's a start...

    Since Congress has not passed a Budget in over 3 years as required by law, stop their salaries and benefits until they do and apply the savings as a spending cut. No other business is required to pay employees who fail to do their jobs. They are, after all, OUR employees...

    Let them be the first cut in spending. They created this mess and they created the deficit.

    Stop their pay until the take real steps to reign THEMSELVES in.

    If there is a deficit, it is because Congress created it and allows it to exist. Presidents can only propose a Budget. Congress passes (except the current crop) the budgets and approves the spending. They have spent money they didn;t have and have used Social Security as their private piggy bank.
    Let's go off the cliff.
    Maybe then the people will understand who caused the problem and and get rid of them all...