Day327 Friday 07/22/11

ran 2.0 miles
Boehner Walks Away From Debt Ceiling Negotiations With Obama; Only Days Before Threat Of Defaulting

"The White House is simply not serious about ending the spending binge that is destroying jobs and endangering our children's future."

John Boehner

Within minutes of one another, Boehner announced on Fox that there was “no deal” and Obama called a press conference to confirm that Boehner had walked away from negotiations. President Obama said it was “hard to understand” Boehner’s actions and Boehner said he would begin negotiations with the Senate.

“Time has run out.”

Barack Obama

"The White House is simply not serious about ending the spending binge that is destroying jobs and endangering our children's future."

John Boehner

Boehner said he and Obama were never “really close” to a deal and, as a result of the president’s demands that “taxes have to be raised” and that “we cannot make fundamental changes to our entitlement programs”, he walked out the door.

Obama’s offer consisted of $1 trillion in domestic and defense cuts and $650 billion in cuts to entitlement programs. What Boehner and so many members of the House disagree with is $1.2 trillion in revenue increases (that’s politi-speak for taxes).

Boehner claims negotiations ended when President Obama asked for more increased revenue, or taxes, depending upon whose side you’re on. At the “last minute” Obama “demanded more money”. The agreement was set at $800 billion in increased revenue until Obama sought $400 billion more.

"The extra 400 billion would have come [from] increasing taxes. They refused to get serious about cutting spending and making the tough choices that are facing our country on entitlement reform."

John Boehner

Scroll down and check out yesterday’s post for an alternative, common sense solution that makes way too much sense for our leaders to acknowledge. There is fault on both sides and this crisis is clearly a political football for the 2012 presidential election. There are fumbles, interceptions, encroachment, offsides, and every other situation the game has to offer except for one single touchdown.

August 2 is the big day. Will America default on its debt for the first time in American history?

1,106.4 miles to go.