I think its fairly obvious that GOP wants to run on the economy that exists today.They have no interest in doing anything that they think might help President Obama's relection chances.
After multiple meetings Friday, Democrats publicly excoriated a fall-back offer by Super Committee Republicans to cut 10-year deficits by over $600 billion. And for the first time, Democratic members are publicly casting doubt on the panelís chances to meet its Wednesday deadline.
Partisan tempers flared over how Democrats and Republicans describe the offer, which includes a trivial amount of new tax revenue, but doesnít touch entitlement programs like Social Security and Medicare.
Only $3 billion of the total package comes from new tax revenues ó ending a tax preferences for owners of corporate jets. The rest came from spending cuts to federal agencies, federal pay, agricultural subsidies, higher fees and spectrum and land sales, and interest saved on the national debt.
Democratic aides mocked the plan as wildly imbalanced ó a 200:1 spending cuts-to-tax revenue offer Republicans never should have made. That counts land and spectrum sales as spending cuts, which they really arenít.
Republicans defended the plan as $229 billion in fees and revenues, $316 billion in cuts, 100 of which come from defense. But only a tiny fraction of the $229 billion comes from actual tax revenues ó and CBO counts many fees as spending cuts, because they save the federal government money by passing on costs to taxpayers.
Republicans note that all the proposed savings have been fairly uncontroversial in the past. But even if thatís the case the entire menu is skewed heavily toward GOP preferences, and would make it difficult to reach consensus on future negotiations. Democrats have not foreclosed on the idea of a small, last-ditch package, but only one that culls equally from provisions that Dems and Republicans prefer.