Turbo Tim Geithner, who is rumored to be about to resign as Treasury Secretary, brought Obama’s offer to Boehner and McConnell. Obama wants $1.6 trillion in tax hikes over the next decade. Of course, he won’t be in office that long.
He demands that the Congress cease voting on debt ceiling hikes.
He demands that Boehner cave on “no new taxes on the rich.”
He wants an extension of “stay at home and watch TV, or work for unreported cash on the side” unemployment insurance payments.
In exchange, he will defer the FICA tax hike.
McConnell burst out laughing.
Obama is playing hardball with a man who need not play: Boehner. If Boehner capitulates, he will be the odds-on favorite to win at next March’s “Wimps R Us” ceremony.
All talk of an agreement on the fiscal cliff is fairy tale stuff.
Boehner can just sit. Nothing compels him to make any deal at all. He can go to the House Republicans and say: “The President wants us to sit down and shut up. That’s just what we should do. We will do nothing. Let him go over the fiscal cliff all by himself.”
Obama thinks he has a winning hand. He has aces over eights. Boehner is holding four kings.