Fiscal Cliff Notes for Dec. 5, 2012
26 days to the fiscal cliff
The latest on fiscal cliff wrangling.....
BOEHNER TO OBAMA: 'WE NEED A RESPONSE FROM THE WHITE HOUSE''
On Wednesday morning, House Speaker John Boehner (R-Ohio) said President Barack Obama is obliged to offer a fiscal cliff plan that has a chance of passing the House and Senate--not like the deal the White House offered up to congressional leaders last week.
Said Boehner at a press conference, "You know, this week we made a good-faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms, and it included additional revenue. And frankly it was the balanced approach that the president's been asking for.
"Now we need a response from the White House. We can't sit here and negotiate with ourselves.
"Our targets and framework are things that we can all agree on, and it's exactly how we approached our discussions in the Biden Group, my discussions at the White House a year and a half ago and, for that matter, in the Joint-Select Committee.
"And if the president doesn't agree with our proposal and our outline, I think he's got an obligation to send one to the Congress - and a plan that can pass both chambers of Congress. If you look at the plans that the White House has talked about thus far, they couldn't pass either house of the Congress.
"We're ready and eager to talk to the president and to work with him to make sure that the American people aren't disadvantaged by what's happening here in Washington."
OBAMA UPS ANTE: WANTS TO ELIMINATE DEBT CEILING
Obama is meeting with Business Roundtable leaders Wednesday morning, part of a drive to woo supporters from tough precincts:
From a White House Official: "On Wednesday, the President will deliver remarks and take questions from business leaders at the quarterly meeting of the Business Roundtable. As more and more business leaders speak out on the need for Congress to act on a balanced plan that protects the middle class, the President will continue to make the case that our nation's businesses need the certainty that middle class families won't see their taxes go up at the end of the year.
"The President will highlight why it would hurt our economy and our nation's businesses if we do not find a solution to avoid another debt ceiling crisis, and will ask the business leaders for their help in supporting an approach that resolves the debt limit without drama or delay. He will also highlight that any plan must include balance and that is why he has put forward a detailed, comprehensive plan that specifies how he would raise revenue from the wealthiest, curb spending, and reform entitlements, and he will reiterate that he will not accept a deal that doesn't include higher rates on the wealthiest individuals."
CROSSROADS GPS HITS OBAMA ON FISCAL CLIFF
The GOP allied Crossroads Grassroots Policy Strategies, aka Crossroads GPS launched a paid TV campaign on Wednesday to slam Obama over his steadfast, oft-stated goal of not extending tax breaks due to expire Dec. 31 for top earners.
From Crossroads: "The new spot will run on national cable networks - including CNN, CNBC, Fox News Channel, Fox Business Network, Headline News, and MSNBC - for one week starting Thursday in a $500,000 buy. The spot will also run on Sunday talk shows in the Washington, DC designated market area."
McCONNELL CALLS OBAMA BID TO VOID DEBT CEILING A "POWER GRAB'
Don Stewart, Deputy Chief of Staff for Communications for Senate Republican Leader Sen. Mitch McConnell (R-Ky.) is thumbs down on Obama's bid to link the fiscal cliff deal making to lifting the debt ceiling. Said Stewart in a Wednesday morning memo"
"While we're certainly flattered that the administration praised one piece of the Budget Control Act, they seem to have amnesia on the rest of the plan. Namely, the debt ceiling was raised last year only after the White House agreed to at least $2 TRILLION in cuts to Washington spending, and agreed to be bound by the timing and amount set by Congress--not his own whim.
"The President wants to have the ability to raise the debt ceiling whenever he wants, for as much as he wants, with no responsibility or spending cuts attached. This is an idea opposed by Democrats and Republicans alike; it's a power grab that has no support here."