BREAKING — House Majority Leader Eric Cantor (R., Va.) has decided to stop participating in the deficit negotiations led by Vice President Joe Biden, citing an “impasse” of the issue of tax increases.
“Each side came into these talks with certain orders, and as it stands the Democrats continue to insist that any deal must include tax increases,” Cantor said in a statement. “There is not support in the House for a tax increase, and I don’t believe now is the time to raise taxes in light of our current economic situation.”
Cantor told the Wall Street Journal that Wednesday’s meeting was far more contentious than past sessions, and talks repeatedly stalled over the tax issue. “At each meeting, it has become a little more difficult to ignore that divide,’’ he said. As a result, Cantor announced he would not attend today’s scheduled meeting.
Despite the impasse, Cantor remains optimistic, praising the vice president’s leadership in the negotiations, which have thus far yielded “trillions in spending cuts” and have “established a blueprint ” for meaningful fiscal reform. He called on President Obama to assume a bigger role in the discussions going forward. “I believe it is time for the President to speak clearly and resolve the tax issue,” said Cantor. “Once resolved, we have a blueprint to move forward to trillions of spending cuts and binding mechanisms to change the way things are done around here.”
Cantor’s decision marks a major turning point in the talks, as negotiators claim to be “down to the hard stuff,” continued to say that progress was being made. Indeed, positions have noticeably hardened in the last several days, especially on the Democratic side (See here, here and here). Meanwhile, President Obama is huddling with House Democrats today ahead of the meeting with Biden to discuss strategy.
So much for shared sacrifice. Failure to consider tax increases in addition to spending cuts is utterly irresponsible and apparently politically motivated (compare comments on NRO that any Democratic proposal for additional taxes and additional stimuls are purely partisan and made primarily with the next election in mind).
Reply to this commentLinkReport AbuseSo basically, you believe that shared sacrifice means that those who played no part in creating the crisis should be forced to sacrifice so that those who did create the crisis don't have to bear the full consequences of their greed.
Reply to this commentLinkReport AbuseWho, exactly, are you claiming played 'no part' in creating the crisis?
Reply to this commentLinkReport AbuseDid anyone really have much hope of a bipartisan deal being made with Obama(Biden merely a proxy) running the show? He's made it abundantly clear in his first few years in office that he's a 'my way or the highway' kind of guy.
Reply to this commentLinkReport AbuseWhat a dumb idea to let him lead the negotiations.
"My way or the highway" also describes Mr. Cantor's approach with respect to refusing to consider any tax increases to balance the budget.
Reply to this commentLinkReport AbuseOne big difference.
Reply to this commentLinkReport AbuseIn this instance, Cantor is in the right.
MarkW: Why is Mr. Cantor right that there cannot be any tax increases to reduce the deficit?
Reply to this commentLinkReport AbuseJust couldn't take it any more. Biden can't get off taxes, he and the Dems are a one trick pony.
Reply to this commentLinkReport AbuseLet's have some analysis from you Andrew. What does this mean? What might Cantor's reasoning be? Is this good or bad for conservatives?
Reply to this commentLinkReport AbuseAfter weeks of Weiner jokes, the last thing we need to do is make references to somebody pulling out.
Reply to this commentLinkReport AbuseI don't understand, Cantor got "trillions of spending cuts" but won't agree to even a dollar of tax increases? Republicans are not in control of the entire government; they need to learn how to compromise if they want to get anything done. Threatening the country with an economic meltdown by defaulting on the debt is not "governing."
Reply to this commentLinkReport AbuseSome people lead, some people take their ball and go home.
This makes Obama's chances of a completely liberal "solution" to avoid defaulting a virtual certainty.
Thanks, buddy!
Reply to this commentLinkReport AbuseI don't believe there is anyone who doesn't believe that tax increases will be on the table at some point. But that point should be only after such time as meaningful cuts (both actual and in projected increases) have been made and agreed to. I would be wary of agreeing to tax increases now in exchange for promises of cuts over the next, say, ten years, cuts that could be subsequently restored by the party in power. I think Cantor was right to walk.
Reply to this commentLinkReport AbuseExactly. The deal Dems offered was $2T in cuts *over the next ten years*. It is a virtual given that these deals never work out whichever party originates the idea. It's a Wimpy deal (I'll gladly pay you Tuesday..) wherein Dems promise cuts down the road for tax hikes now. Oh, I don't think so.
Plus, $2T in spending cuts spread over 10 yrs is an avg of $2ooB per year. This helps our debt and deficit problems like a bandaid helps a severed leg.
The Dems want to paint the GOP as deal-killers, economic saboteurs. What they'll accomplish, however, is to force Obama to climb down off his tower to deal with Boehner & McConnell personally, where he'll be forced to cave in to major spending cuts that'll have his name all over them just in time for election ads.
Reply to this commentLinkReport AbuseIf the public wants tax increases, they can elect a fully Democratic government. That's the primary thing Democrats are for.
Reply to this commentLinkReport AbuseWell, that's half of it. Tax and SPEND.
Reply to this commentLinkReport AbuseSo basically no matter what the majority in the congress - the Republicans will only work to fix the problem if everyone does it they way they want - even if they are wrong. What a way to run a country.
Reply to this commentLinkReport AbuseSo basically no matter what the majority in the congress - the Republicans will only work to fix the problem if everyone does it they way they want - even if they are wrong. What a way to run a country.
Reply to this commentLinkReport AbuseAnd how has it been working out with Dems doing precisely that?
You can't raise taxes enough to fix the mess. We have no other choice but deep, deep spending cuts. Republicans are ready and willing to make them. Democrats want big tax raises and more stimulous spending. Even if they're wrong.
Reply to this commentLinkReport Abuse"Republicans are ready and willing to make them. "
Are you kidding me? When they tried cut out the tanks built in Lima, Ohio that nobody wants, John Boehner blew a gasket. Republicans are ready and willing to make deep cuts as long as it doesn't affect their districts. It's bad enough that democrats want to steal our hard-earned money, but to pretend republicans aren't the same is absurd.
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