Washington (CNN) – House Speaker John Boehner says he’s ready to “lock arms” with President Barack Obama on a deficit reduction agreement tied to raising the federal debt ceiling.
Such a deal, reminiscent of past political agreements between presidents and House speakers of different parties, will be necessary to get congressional and White House approval of a measure that allows the U.S. government to increase how much it can borrow, Boehner told the CBS program “Face the Nation” in an interview broadcast Sunday.
“Well, I think it’s the end of this process. It’s going to have to come to that,” Boehner said. “I’ve talked to the president all year, privately, about the fact that we were not going to increase the debt limit without serious changes.”
Boehner said he has told Obama: “Come on, you and I, let’s lock arms and we’ll jump out of the boat together."
“I’m serious about dealing with this, and I hope he’s just as serious,” Boehner said. “No gimmicks … We know what needs to be done. Let’s just do it.”
At the same time, Boehner stuck to hard-line Republican positions by advocating a House-passed budget proposal that would overhaul Medicare and Medicaid while cutting non-military spending. He also continued to reject any kind of tax increase as a way to raise revenue.
Obama contends that Bush-era tax cuts for families earning more than $250,000 a year should be lifted, and some Democrats also are considering a possible surtax on income over $1 million.
Boehner argued that the wealthy already pay the bulk of tax revenues collected, and targeting them now will inhibit investment necessary for job creation.
“The top 1 percent of wage earners in the United States pay 40 percent of the income taxes. The top 10 percent of wage earners pay 90 percent of the income taxes,” Boehner said. “The people he’s talking about taxing are the very people that we expect to reinvest in our economy and to create jobs in our country.”
Boehner: Still not serious about the debt.
Boehner said. “The people he’s talking about taxing are the very people that we expect to reinvest in our economy and to create jobs in our country.”
Haven't we been hearing this since Reagan? So, Mr Boehner , where are all the jobs???
If it were up to me I would lock the Speaker and the President in a non-smoking room until they worked out a budget.
Republicans are running away from Ryan's budget that they praised so highly and even Ryan himself is trying to run away from it. Boehner and the GOP see that Ryan has taken them up the creek without a paddle but that's what happens when you listen to someone who knows less than you. LOL
One of the great lies the Republican party has told the American people is that "trickle down economics" creates jobs. They want you to believe that it is supply side economics, but it is not and it is why they do not call it that. Personal tax cuts for the wealthy do not create jobs, they create recessions, which has been proven at least 5 times in the past 30 years.
After listening to Sen. McConnel on State of the Union it seems that Mr. Boehner and he have no intention of compromising with the Democrats at all. This almost sounded like a threat from Mr. McConnell. He sounded like the little kid playing baseball who didn't like how things were going so he took the baseball and went home. It is "My way or no way". He doesn't seem to get it that the only way to start to make things better economically is to cut spending but also raise some taxes. The spending cuts have to be done very carefully because the economy is still very fragile and just coming out of a recession. Tax cuts on the really rich and cutting loopholes for big oil companies and other huge companies would help a lot. The Republicans seem to forget that the coffers would be a lot fuller if they had the trillions of dollars spent on the illegal, unnecessary Iraq war. He does not sound like someone who is ready to compromise for the good of the country.
The only serious proposal that the Republicans have put forth is slash and burn with No reductions to the Defense budget, tax reform, taxing the mega wealthy, and Realistic Reforms of the entitlement programs. They want Obama to make ALL of the concessions to the middle class and the poor..
The Republican party should withdraw their budget proposal and tell the Dems it is their problem you fix it and not allow the debt limit to be increased.
The Dems got the economy in this shape let them get it out!
We tried all of this before many times including under George W. and they lost 8 million jobs that go around and now they want us to give it another try. We can't afford another GOP same old same old try. It's time for something new. Try this – Reagan raised taxes when he needed to – George HW Bushe raised taxes when he needed to. It is time to look at an increase in revenue to go along with the spending cuts. Let's get the heck out of this mess and in the future – no new armed conflicts in a foreign country that lasts longer than 6 months without a special armed conflict tax to pay for them. If it is important enough to risk lives, it is improtant enough to pay for without putting us in a huge financial hole.
"The top 10 percent of wage earners pay 90 percent of the income taxes" .... They also own 90% of this Country's wealth. Its just that they pay their due. Because right now, they don't.
“The top 1 percent of wage earners in the United States pay 40 percent of the income taxes. The top 10 percent of wage earners pay 90 percent of the income taxes,”
So if the top I percent earns 60 percent of all income, why do they pay for only 40 percent of income taxes.
So if the top 10 percent earn 90% of income and they pay 90% of all income taxes, doesn't that mean your previous statement means that the top 2 percent do not pay their fair share?
People who have never heard of an "S-Corporation" should google it and find out what Boehner is REALLY talking about. It provides a tax shelter for the largest privately owned corporations.
[Boehner said he has told Obama: “Come on, you and I, let’s lock arms and we’ll jump out of the boat together."]
Doesn't Boehner realize that there is only ONE captain of the ship??? Why would they BOTH jump off???
[“The top 1 percent of wage earners in the United States pay 40 percent of the income taxes. The top 10 percent of wage earners pay 90 percent of the income taxes,” Boehner said.]
I would agree with that if ONLY they top 1% and/or 10% actually PAY TAXES!!! There are so many "loopholes" for them – they barely pay that so-called 40%. What should happen is the TAX CODES be rewritten that will eliminate these loopholes!!
Since we keep hearing how a small percent of our population pays 90% of the taxes, I'd like to know what percent of the gross dollars earned in the US can be attributed to them. When ceo's are making several hundred % more than the average employee, they should expect to pay the bulk of the tax revenues. I have no sympathy for them and they ain't suffering, believe me!
The top 1% pays 40% of the taxes and controlls 90% of the wealth! We need to stop asking these people to do what is right!
Wow, has Boehner been to church? I am just kidding – he still sits on the same old plan: Take it from the poor and give it to the rich! Remember “trickle- down- economics”? It did not work then and will not now!
I have a lot more trust in the President and the Democrats to come up with a good plan that will work in and for the future!
House Speaker John Boehner critic Bill Clinton but Bill Clinton raise tax and create more jobs than G.W.Bush when Clinton left the white house we had surplus
Last year republicans issue number 1 is jobs after they won the election issue #1 is social issues
Finally the Orange man decides he has has to work with Obama and the Dems to get things done. It's just too bad it took him THIS long to realize what it takes to have a functioning government....COMPROMISE!!
The RICH have had tax cuts for 8 years! Where are the jobs Boehner? It's a nice theory that gets your rich friends tax cuts, but it has nothing to do with actually creating jobs. Tax cuts do not create jobs, never has never will. Stop lying Republicans!
Let's lock arms together – but tax increases and immigration reform and money for Planned Parenthood and ........ are off the table. Right!!!!
Instead of locking arms with Obama and jumping ship, he should jump by himself. He is the one that put himself in the position he is in now.
This is all posturing. Only a fool would let the US default on it debts.
I hope people are smart enough to realize that Republicans want to do away with Medicaire and Medicaid. They want to reduce the American people to beggars who will accept any thing just to get a job. It is increasingly an America for rich people and the rest of us are damned.
It is about time all Americans with income to pay federal income tax.
Haven't we been hearing this since Reagan? So, Mr Boehner , where are all the jobs???
---------------------Clinton and his corporate tax policies gave them all away.