McConnell: Laughing His Way Over the Fiscal Cliff
From The Weekly Standard:
Mitch McConnell, the Senate Republican leader, says he “burst into laughter” Thursday when Treasury Secretary Tim Geithner outlined the administration proposal for averting the fiscal cliff. He wasn’t trying to embarrass Geithner, McConnell says, only responding candidly to his one-sided plan, explicit on tax increases, vague on spending cuts.
Geithner’s visit to his office left McConnell discouraged about reaching a “balanced” deal on tax hikes and spending reductions designed to prevent a shock to the economy in January. “Nothing good is happening” in the negotiations, McConnell says, because of Obama’s insistence on tax rate hikes for the wealthy but unwillingness to embrace serious spending cuts.
Geithner suggested $1.6 trillion in tax increases, McConnell says, but showed “minimal or no interest” in spending cuts. When congressional leaders went to the White House three days after the election, Obama talked of possible curbs on the explosive growth of food stamps and Social Security disability payments. But since Geithner didn’t mention them, those reductions appear to be off the table now, McConnell says.
- Krauthammer to Republicans: “Walk Away” From Obama’s Fiscal Cliff Deal (Video) (nicedeb.wordpress.com)
- Oh My: McConnell Laughed Out Loud When Geithner Discussed Obama’s Plan (townhall.com)
- Sen. McConnell Laughed Out Loud at Obama’s $1.6 Trillion Tax Hike ‘Offer’ (pjmedia.com)
- Drudge Is Trolling Tim Geithner And The White House’s ‘Opening Bid’ Fiscal Cliff Offer (businessinsider.com)
- McConnell Statement on Geithner Meeting (mcconnell.senate.gov)