GOP Rejects Obama Offer of $1.6 Trillion Tax Increase


Congressional Republicans dug in to fight President Barack Obama’s plan to skirt the fiscal cliff, rejecting his tax-and-spending proposal as the president heads out today to sell it to the American public. Treasury Secretary Timothy Geithner shuttled among congressional leaders yesterday with a plan to trade $1.6 trillion in tax increases for $400 billion in unspecified entitlement program cuts, Republican congressional aides said.

Republicans complained that the offer was little more than a rehash of old budget proposals, setting the stage for more contentious negotiations over the next several weeks as the year-end deadline approaches for more than $600 billion in spending cuts and tax increases to kick in.

GOP Rejects Obama Offer of $1.6 Trillion Tax Increase

Tax increases **NO CUTS **Does this seem simliar? It should the same deal the democrats offered Reagan and reneged on the cuts.

But do not worry Boehner will give in


If you do the math you will see a $5T fed budget approaching 24% of GDP, crushing tax, NO reduction in spending…