In order to understand the status of the secluster talks,
you only need to review the official transcript of the meeting this morning
between the President and the Republican leadership. The text makes it crystal clear that we are
in for an entertaining and economically painful few months.
From the White House:
Summary from meeting today between Congressional leaders and the
President on the Secluster cuts scheduled to take effect today:
Obama: Thank you for
coming. We need to stop the
secluster. It is bad for America and a
dumb way to govern.
Boehner and McConnell:
We are happy to be here. As far
as the secluster, you started it.
Obama: I suggested spending
cut triggers that would be so distasteful to both parties that a grand bargain on
deficit reduction would be reached. I
wrongly predicted that the threat of these draconian cuts would force a compromise. I was wrong.
Boehner and McConnell:
Yes you were wrong.
Obama: I just said
that.
Boehner and McConnell:
And we agree. We are agreeable.
Obama: So let’s replace the sequester cuts with a balanced
plan that addresses spending and revenue.
We can include Republican ideas and Democratic ideas.
Boehner and McConnell:
Why won’t you lead?
Obama: I am trying to
do just that. The American people voted
for me in November. I campaigned on a
platform of a balanced approach to deficit reduction. I am trying to fulfill that promise.
Boehner and McConnell:
No you are not. You are a tax and
spend liberal.
Obama: No I’m not.
Boehner and McConnell:
Yes you are.
Obama: I think it was
the Republican Party that approved of fighting two wars and adding a
prescription drug benefit without asking for any revenue offsets.
Boehner and McConnell:
You are mischaracterizing our limited government principles in action.
Obama: Look, are you
guys willing to compromise?
Boehner and McConnell:
Yes, we are not obstructionists.
Obama: Good.
Boehner and McConnell:
We will compromise by offering to double the amount of tax increases we
have already offered.
Obama: But you have
offered zero tax increases.
Boehner and McConnell:
Fine, then we’ll triple it. We
can be reasonable. If you don’t accept
that, you are the obstructionist. Why
won’t you compromise?
Obama: What about
closing tax loopholes? Governor Romney
campaigned on a platform of closing unnecessary tax loopholes as one way of
getting our balance sheet in order.
Boehner and McConnell:
Closing loopholes is a tax increase.
That is bad.
Obama: So Romney
campaigned for a tax increase?
Boehner and McConnell:
No, he campaigned to close loopholes that unfairly benefit the 47%
takers in society.
Obama: But if it is a
loophole, it is by definition something that circumvents the intent of the
actual tax law that was passed.
Boehner and McConnell:
We support the rule of law. Tax
loopholes are in the law. If you want to
close loopholes, you do not respect the law.
Why do you hate America?
Obama: I don’t hate America. I am trying to find a balanced approach that
protects America
for the long term without sacrificing our short term economic needs.
Boehner and McConnell:
The secluster was your plan to gut our military and make America weak.
Obama: Actually, I
suggested automatic tax increases as the trigger if a deal wasn’t reached, and
your side said, “No, let’s use defense cuts.”
Boehner and McConnell:
No we didn’t.
Obama: Yes, you did.
Boehner and McConnell:
We are rubber and you are glue.
Obama: Gentlemen,
this meeting is going nowhere.
Boehner and McConnell:
We are waiting for you to lead us.
Obama: OK, then I
will lead you to accept a balanced approach to deficit reduction that includes
revenue increases, targeted investments, and spending cuts. The polls all show that the country is with
me on this.
Boehner and McConnell:
Stop campaigning and lead.
Obama: Let’s try
another approach. What do you suggest
that we cut from the budget to replace the secluster?
Boehner and McConnell:
Spending.
Obama: What spending?
Boehner and McConnell:
Government spending.
Obama: What specific type of government spending do you
recommend we cut?
Boehner and McConnell:
Wasteful government spending.
Obama: What government spending is wasteful, in your
opinion?
Boehner and McConnell:
Spending money we do not have.
Obama: Look, will you
get specific?
Boehner and McConnell:
In this time of crisis, we need you to eliminate uncertainty.
Obama: That’s what
I’m trying to do!
Boehner and McConnell:
We are not certain you want to remove uncertainty.
Obama: It’s time we
stop managing our nation’s business from one self-inflicted crisis to the
next. It is not what the people have
sent us here to do.
Boehner and McConnell:
We don’t like leading by crisis.
You do. Why are you always
scaring people with phony crises?
Obama: Explaining the
impact of the secluster is not scaring people.
In fact, you have used the same language I have to describe the impact
of the cuts.
Boehner and McConnell:
No we didn’t. You created this
crisis. That’s what liberals do. Stop leading us into crisis after crisis.
Obama: So you admit I
am leading?
Boehner and McConnell:
Stay away from our guns.
Obama: I thought we
were talking about the secluster.
Boehner and McConnell:
Because of your secluster cuts, we will need more guns.
Obama: Now you are
using fear to scare people.
Boehner and McConnell:
Explaining the impact of the secluster is not scaring people. It’s called defending liberty.
Obama: I think this
meeting is over.
Boehner and McConnell:
We are sorry that you will not agree to compromise and do exactly what
we propose. We are trying to lead since
you will not.
Obama: Doing whatever
you want is following, not leading.
Boehner and McConnell:
We think this meeting is over.
Obama: I’m not sure
it ever started.
Boehner and McConnell:
Thank you for seeing us. Would
you mind leading us out?