Monday, December 31, 2012

Fiscal Cliff Deal Growing More Likely, Would Raise $715 Billion In Revenue

This whole fiasco started with the rejection of Simpson-Bowles by Obama. Then, read Woodward's book on the political jockeying going into the debt-ceiling talks early this year to see how Obama rejected a Boehner proposal agreed on by Pelosi, McConnell and Reid! Boehner caved so much that he allowed Obama to avoid a confrontation on the ceiling/budget until AFTER the election.

Now we are looking at a tax raise without real cuts in entitlements, which will have to wait until February, when Boehner & Obama will duke it out again over a debt-ceiling compromise.

Read the Article at HuffingtonPost

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