Meep Meep Watch? Ctd

Jul 27 2011 @ 1:39pm

Mickey, in fine counter-intuitive fashion, argues that the Boehner plan is better for Obama:

Isn’t the Boehner Plan the President’s most promising route to the “grand bargain” (including revenue increases) he says he wants? It would set up a commission to propose $1.6-1.8 trillion in deficit closing measures–which could include tax increases and entitlement reforms. Then it would force an up or down vote under threat of default if Congress votes “no.” It almost seems like Obama’s dream bill, if you take what he says seriously. If you were cynical you would say that this is why he has semi-threatened to veto it … By contrast, the Reid plan seems unlikely to produce a “grand bargain” of any sort because it doesn’t make avoidance of default contingent on passing a big new cuts-and-revenues package.

I favor a Grand Bargain, based on Bowles Simpson. But the GOP is so opposed to it I cannot see how Boehner could get such a proposal even faintly past the House. So we go back to Square One in a few months. As Douglas Holtz-Eakin notes:

The six Republicans (and any Democrats who are not renting their brain from an amoeba) can easily stop any notion of tax increases. And there is simply zero chance that the House would pass such an increase if it did emerge over the next six months.