Steve Benen has the story HERE:
Last week, the Obama administration presented congressional Republicans with a formal offer in their ongoing fiscal talks, and challenged GOP leaders to come up with a plan of their own. Today, House Speaker John Boehner and the House Republican leadership sent a [three-page] letter to the White House that’s been described as a “counteroffer,” but that’s not quite correct…
Under this proposal, Republicans would keep all of the Bush-era tax rates, but accept $800 billion in new revenue. How? Through “through pro-growth tax reform that closes special-interest loopholes and deductions while lowering rates.”
From there, the GOP leaders want to cut $600 billion from Medicare and Medicaid; cut $300 billion from mandatory programs; cut $200 billion by changing the consumer price index; and then cut another $300 billion in further discretionary spending.
To call this a “counteroffer” is to strip the word of meaning. Under the GOP plan, Republicans get the more than $1 trillion in spending cuts Obama already gaved them; Republicans get the entitlement cuts they want; Republicans get hundreds of billions of dollars in additional cuts to programs they haven’t identified; and Republicans get all of the Bush-era tax rates they’ve prioritized.
This isn’t a “counteroffer”; it’s a Christmas wish list written by kids without access to a calculator.