GOP demands trillions in cuts as budget talks resume
May 10th, 2011
06:20 PM ET
10 years ago

GOP demands trillions in cuts as budget talks resume

Washington (CNN) - Vice President Joe Biden held another round of high-stakes budget talks with top congressional negotiators Tuesday - one day after House Republicans demanded trillions of dollars in new spending cuts as their price for agreeing to raise the federal debt ceiling and avoid a potential economic catastrophe.

Biden and Treasury Secretary Tim Geithner met with, among others, House Majority Leader Eric Cantor, R-Virginia; Senate Appropriations Committee Chairman Daniel Inouye, D-Hawaii; Senate Finance Committee Chairman Max Baucus, D-Montana; and Sen. Jon Kyl, R-Arizona, a top member of the Finance Committee.


Filed under: Budget • Joe Biden • Republicans
soundoff (18 Responses)
  1. ConservaFASCISTS

    They should be actual cuts and real reforms to these programs, not broad deficit or debt targets that punt the tough questions to the future," the speaker declared. "With the exception of tax hikes - which in my opinion will destroy jobs - everything is on the table."

    I can't take Bonehead seriously when he says everything is on the table. If that was the case, he should listen to what the people are sayin: TAX THE RICH!!! End the oil subsidies to big oil. That's a start. All these cuts the fascists republicans want are on the backs of the middle class. I don't see any shared sacrifice going around.

    May 10, 2011 01:43 pm at 1:43 pm |
  2. Rudy NYC

    Do away with the Bush Tax Cuts, especially those for the wealthy. Personal tax cuts do not create jobs. Tax cuts that are actually aimed at the businesses themselves, (which the Republican Party has opposed since Obama took office), are more effective for stimulating job growth. Treat the problem not the symptom.

    If Republicans wish to walk into discussions with "tax cuts off the table", then let them sit and eat in the corner at the children's table while the adults in the room eat at the man dining table. That's how we always did at my house for large family gatherings. Didn't yours?

    May 10, 2011 01:48 pm at 1:48 pm |
  3. 'merica ruined by rethugs

    The middle class demand increased revenue streams: no more corporate welfare, no more top 2% trickle down failures.

    May 10, 2011 01:54 pm at 1:54 pm |
  4. 'merica ruined by rethugs

    Ask Rick Perry about the role of the Fed Govt...
    If the GOP wants to play chicken with the debt ceiling, game on....

    May 10, 2011 01:55 pm at 1:55 pm |
  5. fayse

    John Boehner is a fool. We have a revenue problem as well as a spending problem. The GOP is allowing themselves to be railroaded by the tea party, The tea partiers are idiots. The GOP is playing politics with the future of America. Their primary goal is to get back into the White House regardless of what damage they have to do to our Country, the poor and middle class, to women, you name it. I pray that America will wake up in 2012 and vote each and everyone of the Republicans out of office. One more point. The GOP is already airing a ridiculously misleading ad with blatant lies. The is trying to convince the listeners that the President, while in Brazil, was encouraging them to drill for more oil. Preposterous, Brazil is almost independent of oil, they have converted to sugar cain. The certainly would not be drilling for oil.

    May 10, 2011 01:57 pm at 1:57 pm |
  6. Mikey

    Should the President and the Dems call this major league bluff by the GOP? They ARE going to raise the debt ceiling. It should not come at the expense of a highly partisan wish list for budget cuts. Unless, of course, the GOP is willing just to pick a number and let the Administration determine the specific cuts to arrive at that number – such as extra second engine models for planes that don't need an alternate engine that the DOD says it doesn't need, but is produced in Boehner's and Cantor's districts. CALL THEIR BLUFF and after they have caved with their tails between their legs, then have a reasonable, cooperative, constructive conversation about the 2012 budget.

    Yes, we need to cut the waste and ineffective and unnecessary programs AND defense. We also have a REVENUE problem, as revenues are down to 25% of GDP from the 30% they have been during periods of strong economic growth. Taxes for corporations are down to 6% of Federal revenues from 25% a few Administrations ago. Individual income taxes for the wealthy have not been lower in about 80 years. We definately have both a SPENDING problem and a REVENUE problem. Let's fix this mess in a way that shares the sacrifices.

    May 10, 2011 02:06 pm at 2:06 pm |
  7. Sniffit

    GOP's not serious. This is just more political theater. First, the debt ceiling is getting raised. It's not even remotely credible for the GOP to threaten to refuse to raise it in a fit of pique if they don't get their way on decimating Medicare and Social Security and protecting the tax cuts for the wealthiest 2%. The damage it would do to our economy, the world economy and, in particular, industries that are very VERY much into purchasing GOPers as their proxy-politico-puppets if the debt ceiling isn't raised and the US goes into default? Well, I think you get the picture.

    Second, trillions of dollars in cuts can't happen in a short time period. They just can't. Math + reality = 4. So, the GOP is really doing two things with their demand that it be trillions of dollars: (1) they know it will have to be an aggregate over several years and they'll just claim that $X per year times Y years = trillions...yay, we got what we wanted, aren't we so wonderful? and (2) by insisting on trillions in cuts but purposefully leaving out any reference to a time period, they build up and play to their base's unrealistic expectations that it's not only realistically possibel to chop trillions from the budget in a short period, but also very easy to do it...and oh look at the evil "Tax&Spend(TM)" Dems who won't allow the ever so responsible GOP to make all the ridiculous, insane and irresponsible budget cuts they have proposed (yuo can liken this to something along the lines of "what the hell do we need Medicare for? I'm only 35").

    Third, taxes are going up on the rich whether they like it or not. They'll throw their fits and try to make it all the Dems faults for wanting to raise taxes on everyone and "redistribute the wealth," but the reality is, this one's just about the blame game, because the GOP also knows full well that to fix anything about the budget deficit and debt problems, taxes are going to have to go up on the rich and corporate loopholes will need to be closed. Their opening bids are purposefully extremist in hopes that they can counterbalance society's demands of more accountability from the people who it has made filthy rich with shifting more burdens upon the middle-class. They don't want an egalitarian society, they want a plutocracy, and they will go to the mat to force little poisoned pill concessions out of anyone looking to stop our already out-of-control momentum in that direction.

    May 10, 2011 02:08 pm at 2:08 pm |
  8. Me

    Hmmm, interesting. I wonder how much they GOP wants to cut from the defense budget?

    May 10, 2011 02:11 pm at 2:11 pm |
  9. Wire Palladin, S. F.

    Why is it that republican baggers drove us to the edge of a great depression, refused to support any efforts to get us out of the Bush/republican mess, and now want the middle class and poor people to pay for the trillions of republican waste in unfunded wars and tax cuts for the wealthy?

    May 10, 2011 02:11 pm at 2:11 pm |
  10. Four and The Door

    The reason we keep exceeding the spending cap is not because taxes are not high enough.
    When you consider State and Federal taxes we are among the highest taxed in the world. But even though our economy is the largest of any country in the world, our government still spends more than it gets in taxes already. The problem is entirely that they spend too much. The Republicans have nothing but resistance as they try to get this in control, but at least they are fighting for us trying to make a living out here. Is it 2012 yet? We still have some shellacking to complete.

    May 10, 2011 02:14 pm at 2:14 pm |
  11. DC Insider

    We have to get our spending under control, and let's do this in a Bipartisan way. I am tired of hearing Senator Reid saying he proposed a $41 Billion Tax cut, he is basing this on the never enacted 2011 budget. And if you want to read some real reporting, go read the Washington Post's Glenn Kessler's article back on March 3rd, 2011 that points out the rhetoric from the Democratic party on budget cuts is misleading.

    Let's get real people, we need to really get our deficit under control, and you can blame the past administration for our 2 wars, and for a variety of different things. But let's face it...the current administration has spent more money to try to stimulate the economy then Bush had spent in his term in office. Now we are about to hit our debt ceiling, and the mantra of some Democrats is to raise the Debt Level so we can spend more? I don't get it, we are taught to spend only what we have and try not to live beyond our means, and the government seems to be doing something different. The problem is that they'll spend my hard earned dollars that I gave to them as provide services that are flawed or inefficient.

    May 10, 2011 02:22 pm at 2:22 pm |
  12. Bill NY

    I find it ironic that the GOP are so consumed with cuts due to the fact that if you very carefully check history especially during the Nixon, Reagan and both Bush regimes and GOP policies during those times and the attitudes towards big business you will find the roots of the current mess we find ourselves in. Out of the above three only President Reagan had the guts to raise taxes. The GOP wants to have their cake and eat it while the masses have their cake and heave it, meaning that they want to continue to allow big business to pay almost no taxes, receive subsidies and other incentives not to create jobs while cutting services for those who need them most.

    May 10, 2011 02:38 pm at 2:38 pm |
  13. Rick McDaniel

    There should be NO INCREASE in the debt limit. To do show, will simply allow Obama to squander more borrowed money, which we don't have.

    May 10, 2011 02:41 pm at 2:41 pm |
  14. YOYO

    I like Vice President's glasses.

    May 10, 2011 02:47 pm at 2:47 pm |
  15. juliei4

    So where does the GOP want to cut trillions from? Medicare? Oh no, they backed off of that. They all ran away from Ryan's budget plan as well they should. Put the old tax rate back on the wealthy – implement an armed conflict tax on all of us. This means when the US is in an armed conflict in another country that lasts longer than 6 months, an automatic tax goes on everyone to help pay for it. If an armed conflict is necessary to defend this country then a small added on tax that expires when hostilities cease shuold be implemented. One of the reasons we are in this financial mess is two wars plus a tax cut. Eliminate the subsidies and tax credits for our corporations that are showing record profits. Something is just not right with that picture.

    May 10, 2011 02:49 pm at 2:49 pm |
  16. GI Joe

    Did anyone else notice all the republicans in NYC today to collect their campaign money from their wealthy wall street friends? They're probably telling them not to pay any attention, that further de-regulation and tax cuts will be theirs if they vote republican. Don't trust them as far as I can throw a bull by the tail. Hope some of you have learned your lesson. they campaign on one thing, and then cut the very things that you demand be kept. DO NOT VOTE REPUBLICAN if you are poor or middle class. It is against your own best interests.

    May 10, 2011 02:49 pm at 2:49 pm |
  17. Chipster

    Does the GOP leadership plan to end Social Security, Medicare, and Veterans benefits to pay for protecting huge tax cuts for millionaires? Is that what they call family values? The disparity between rich and poor continues to grow wider as the GOP whines about Senior citizens who think that, just because they PAID all their working lives for their benefits, that they are somehow "entitled." Where's the GOP BILL to cut Congressional salaries, benefits, and perks?

    May 10, 2011 02:52 pm at 2:52 pm |
  18. Dominican mama 4 Obama

    The GOP DEMANDS!!!
    Boy, that's rich!
    Where do you propose we cut the trillions from, or should we ask your boy Ryan?
    We can do this all night long.

    May 10, 2011 03:00 pm at 3:00 pm |