Sunday, July 10, 2011

Obama faces new obstacles in high-stakes debt talks | Reuters

Obama faces new obstacles in high-stakes debt talks | Reuters: "- Sent using Google Toolbar"

It seems the play from the GOP is to force as large a cut as is possible, including cuts to social programs, without any option of revenue enhancements in the form of elimination of tax subsidies to wealthy corporations or people. Senator DeMint seems willing to take it to the point of not being able to send out Social Security checks or pay Medicare claims. That is a very dangerous tack for the GOP.

President Obama was ready to give up concessions in the social programs but that will not easily come without concessions from the Republicans. He is already under fire from the left end of his own party for considering changes to the entitlement plans.

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