Obama’s Debt Deal Has Democrats Furious

The stakes in Washington are very high involving debt negotiations. The politics are even higher especially for the Democrats.

President Obama had another meeting with congressional leaders in the White House and everyone there agreed that striking a deal reducing deficits by $4 trillion over the next 10 years would be good for the country.

Speaker John Boehner confided with his Republican caucus that there was a 50-50 chance in striking a big agreement. There was not much bargaining in the White House, but Boehner had still believed in those odds.

A closer look at the situation makes the chances seem much lower. Success on a compromise rests heavily on Republicans or Democrats having to cave in on some of their big public positions. The Democrats might have to cave in on two.

Leading Democrats have been saying for a long time that they will agree to massive spending cuts if the Republicans would agree to raising taxes on the rich. As usual, the Republicans have no plans to agree on any tax increases for the wealthiest of Americans.

The Republicans hope the Democrats will cave in once again, led by the President. That was the result last time when Obama talked his party into extending the Bush tax cuts in order to avoid a Government shutdown.

That is why many liberals are so angry, because they believe that Obama will surrender again before the fight has even begun. Democrats know that giving up too much will hurt their chances of gaining ground in the House and holding onto their Senate majority.

If Obama puts entitlements on the table, this will hurt many Democrats who have protected Medicare and Social Security to vehemently. If Obama gives too much, the fight will begin in his own party and he may lose precious support from many.

Short URL: http://www.worldnewswire.info/?p=1359

Posted by on Jul 11 2011. Filed under Featured News, World. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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