Obama-Boehner Duel Shows Compromise Not Near

[xchrom]

http://www.bloomberg.com/news/2011-08-09/obama-sparring-with-boehner-shows-compromise-on-deficit-reduction-not-near.html

President Barack Obama and House Republican leaders showed no sign of backing off their stances on how to cut the federal deficit as U.S. stocks sank the most since December 2008 on concern the economy will keep slowing.

Obama, making his first public comments since Standard & Poor’s downgraded the U.S. credit rating to AA+ from AAA on Aug. 5, said yesterday that “common sense and compromise” should lead to a deficit-reduction plan that includes spending cuts and more tax revenue.

“It’s not a lack of plans or policies that’s the problem here,” Obama said at the White House. “It’s a lack of political will in Washington.”

U.S. House Speaker John Boehner and Majority Leader Eric Cantor responded with statements saying both sides should be able to find cuts in mandatory spending, such as Social Security and Medicare, to make enough progress on the long-term shortfall.

[Bragi]

1. Oh oh, tea party rejecting bipartisanship /nt

[bdamomma]

2. Social Securty and medicare should not be in the picture

how about cuts in the defense bill instead, how much more do they want to take from people. just really sucks.

[DCKit]

3. What you said. nt