Pull Off The BandAid

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Monday, July 11, 2011 - 2:56pm

President Obama pushes for debt-ceiling deal after talks stall.

With three weeks to go until the United States hits its debt ceiling President Obama says a compromise to avoid a federal default is being blocked by the Republicans.

"I do not see a path to a deal if they don't budge, period," Mr. Obama warned Monday.

Tea Party freshmen will vote "no" on any perceived tax hikes.

House Speaker John Boehner once believed he could ram through a ten year deal that included small tax increases, if tax rates themselves did not rise.

He now says that won't happen.

"The House cannot pass a bill that raises taxes on job creators," Boehner said Monday.

President Obama says he doesn't want to slow the recovery, and points out that current proposals don't increase tax rates, only close loopholes.

"Nobody's looking to raise taxes right now...were talking about 2013 and the out years," Mr. Obama explained. "It's not going to get easier, it's going to get harder, so we might as well do it now. Pull off the Band-Aid. Eat our peas," the president said.

Both sides agree they have to make a deal within the next three weeks, but it looks like any final agreement will be for fewer years and fewer dollars.
 

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