Fiscal Cliff Deal Emerges Despite Public Bluster
Posted at 10:15 a.m. on Nov. 30, 2012
Politico reports that while Democrats and Republicans appear to be moving further away from a “fiscal cliff” deal, “behind the scenes, top officials who have been involved in the talks for many months say the contours of a deal — including the size of tax hikes and spending cuts it will most likely contain — are starting to take shape.”
“Taxes will go up just shy of $1.2 trillion — the middle ground of what President Barack Obama wants and what Republicans say they could stomach. Entitlement programs, mainly Medicare, will be cut by no less than $400 billion — and perhaps a lot more, to get Republicans to swallow those tax hikes.”
“There will be at least $1.2 trillion in spending cuts and ‘war savings.’ And any final deal will come not by a group effort but in a private deal between two men: Obama and House Speaker John Boehner (R-Ohio).”
