Report: Obama offered to raise Medicare eligibility age by two years as part of debt deal
HERE‘s another indication that President Obama has been far more flexible than his Republican counterparts in ongoing talks about the U.S. debt ceiling:
According to five separate sources with knowledge of negotiations — including both Republicans and Democrats — the president offered an increase in the eligibility age for Medicare, from 65 to 67, in exchange for Republican movement on increasing tax revenues.
The frameworks of the deal were as follows: In exchange for raising the Medicare retirement age (in addition to other entitlement reforms and cuts that together would add up to $3 trillion), GOP leadership would sign off on $800 billion to $1 trillion in revenue raisers. Those increases, however, would only come in 2013. Republicans would have their choice of poison too. Either they could craft and pass a sweeping package of tax reforms that would result in $800 billion to $1 trillion in revenue increases, or they would be forced to de-couple the Bush era tax cuts, allowing those for people making above $250,000 to expire.
But, of course, the deal fell apart. The Republicans won’t budge an inch on taxes.