Debt talks: Both sides digging in
June 30th, 2011
09:06 PM ET
3 years ago

Debt talks: Both sides digging in

WASHINGTON (CNN) - Democrats are still insisting any deal to raise the debt ceiling include revenue increases while Republicans maintain that cannot pass Congress, both Democratic and Republican sources familiar with the talks said Thursday.

White House negotiators had put on the table proposals to bring in more than $400 billion in revenue over the next decade by limiting itemized deductions for those above the 28% bracket, eliminating subsidies for the oil and gas industry and for corporate jets and for interest on investments, according to Democrats familiar with the negotiations. In the past, Democrats have opposed attempts to limit itemized deductions.

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Filed under: Debt • Democrats • Republicans • White House
soundoff (9 Responses)
  1. Anthony

    A Wall Street earthquake is coming, which is the only language Republicans understand. No matter what Republicans say in public, the corporate masters of the Republican Party will not allow Republicans to crash the markets.

    June 30, 2011 09:18 pm at 9:18 pm |
  2. Marie MD

    This is very simple the rethugs don't care about anyone but the rich so tax the rich. The republikans are in the pockets of big corporations so make sure that corporations bring jobs back home and any company who sends jobs outisde the US are to be fined for taking those JOBS (still waiting rethugs) away from Americans.
    No blinking on this one because most of the country want the rich taxed and Medicare/Medicaid and SS left alone. The "empowrting" of grandma under the ryan/koch plan is NOT what we want.

    June 30, 2011 09:33 pm at 9:33 pm |
  3. John

    This just go and show you the Republican can't be trusted. The Republican say them self that everything would be on the Table, this just go and show they LIE again. They want the Middle Class and the POOR <THE OLD and the disable to pay for all of but cuts to rise the dept ceiling. They say rise taxes will not pass ,so that mean everything thing Is Not On the TABLE. And If you keep saying It won't pass than of course It won't. You have The John Boehner the speaker of the house and you have the Republican leader In the Senate have to go In the HOUSE and SENATE and TELL the other Republican that rising the Taxes have to be In so you can get something done. Quit saying you won't rise taxes and start Compromise. Or the American people That you Republican don't listen to are going to let you Republican hear us nice and loud In 2012. They have the three Biggest IDIOT running the House and Senate America ever had. John Boehner, ERIC CANTOR and MITCH McConnell. One all way got a dumb looking smile on Is face like he know he about ready to screw the American people again , and the other two One will start crying and the other will start whining.The Republican haven't done anything for America or the American People In all most three years ,I think It time they did there JOBS. By the Way were are the JOBS you Republican Promise In 2010, And don't say that way you gave the RICH there TAX CUTS ,because that haven't work In over Six years and It not going to and you Republican know It. So why don't you republican try and earned your money for once. There Is another Idea and that Is If they don't want to Rise Taxes , than have the Republican gave up there pay for three years. Because they heaved earn It anyway.

    June 30, 2011 10:00 pm at 10:00 pm |
  4. womynof3

    "negotiators had put on the table proposals to bring in more than $400 billion in revenue over the next decade by limiting itemized deductions for those above the 28% bracket, eliminating subsidies for the oil and gas industry and for corporate jets and for interest on investments" ... Translation: since 50 % of Americans are the only ones WORKING, then those making over $50,000 will be paying more and losing their deductions. Don't CNN researchers do the math?
    Meanwhile, Democrats will think they can spend more. They need to get it through their heads that they have to live on what is collected – and no more!

    June 30, 2011 10:14 pm at 10:14 pm |
  5. Zone

    We the public wants' to see result for what you are paid for! failure to deliver? we just change you like diappers!

    June 30, 2011 10:32 pm at 10:32 pm |
  6. Anthony

    Perhaps it is time for Obama to start a faster drawdown of our troops in Iraq and Afghanistan, just to remind Republicans that their action/inaction on the debt limit has real consequences.

    June 30, 2011 10:35 pm at 10:35 pm |
  7. TEW

    Compromise to republicans is defined by the Prez and Dems giving in on all the republican outragous and unrealistic demands while at the same time not budging an inch on their side. I pray that Americans wake up and realize that the republicans are ruining this country. The Prez was correct to scold the obstrutionist who stand in the way of resolution and threaten the economic future of the country. Let's face it... The priviledged and yes those who have a false sence of superiority cannot accept the ethniticity of the Prez and will stop at nothing to deny him any progress. If this is what the American people want then at least have the courage to admit it and stop hiding like cowards behind lies.

    June 30, 2011 11:45 pm at 11:45 pm |
  8. Four and The Door

    The Democrats are at a distinct disadvantage and their strategy of holding out for tax increases are detrimental to them, the country and the people they represent. The point is, their out-of-control spending put us all in this position. They have fought spending cuts since day one and look where it has got us. They have violated their own credit limit.

    The Republicans are generous offering to support an increase in the limit so that the rampant spending does not hurt America more than it already has. They just ask for some controls to keep this next debt limit from being as meaningless as the last one. So now the Democrats get greedy and demand that the American taxpayer come out of pocket more?!? It's obscene and they need to re-evaluate what the real problem here is.

    July 1, 2011 12:20 am at 12:20 am |
  9. DA

    I don't get what is wrong with the GOP and folk who think, those who make more shouldn't pay more. I mean Really? When you have a Billionaire who publicly, tells America "look I play less tax than my Assistant", there is a problem. If you ask me, the argument that companies will not hire because of more taxes placed on them just don't cut the mustard these days. A company will hire when it needs to hire. Our problem is that now that companies are use to less people and they asking more of those on hand, companies feel they don't have to hire anyone, because they are profiting more with less!! The GOP is all about Corporations not the little person. I mean come on people USE some Common Sense will ya!!!

    July 1, 2011 08:12 am at 8:12 am |