View Full Version : Now We Know Why Obama Torpedoed The Debt Deal

07-23-2011, 02:55 AM
Labor, Liberal Groups Mobilizing Against White House on Debt Deal

Incensed at reports that President Obama and House Speaker John Boehner (R-Ohio) may be nearing agreement on a debt-ceiling deal that would involve cuts to federal entitlement programs but no immediate provisions to raise taxes, labor and liberal groups are urging their members to rally against such a plan.

On Friday, a coalition of national groups including MoveOn.org, Democracy for America, the Progressive Change Campaign Committee and the AFL-CIO organized an “emergency call-in day,” urging members in an e-mail to contact Democratic members of Congress and tell them to “keep their promises to reject any debt deal that slashes programs for seniors and working families while doing little or nothing to make the rich and corporations pay their share.”

Members of MoveOn.org are also planning on calling Senate and House Democrats’ campaign arms as well as Obama’s Chicago-based reelection campaign in opposition to any deal that would not include spending cuts but no immediate revenue increases.


07-23-2011, 02:57 AM
Obama Scuttled Debt Deal With Trillion-Dollar Tax Demand

House Majority Leader Eric Cantor (R-Va.) said that President Barack Obama torpedoed a deal to raise the debt ceiling by demanding an additional $1 trillion in tax hikes in exchange for comprehensive tax reform.

Speaking to an audience at the U.S. Chamber of Commerce on Tuesday, Cantor said that Obama had offered to “de-couple” tax hikes on those making $250,000 or more in exchange for lowering tax rates later through comprehensive reform.

“As you know, the Speaker [John Boehner] ended the talks because the president insisted on raising the tax rates,” Cantor said. “From what I know – and there’s not a lot of detail that I do know about – that deal was premised upon decoupling of the Bush tax rates.”