Saturday, November 10, 2012

ABC News: Good Morning America: 'President Obama, House Speaker John Boehner 'Taxmaggedon' Showdown'

Source:ABC News- left to right: (not necessarily ideologically) Speaker of The House John Boehner (Republican, Ohio) & President Barack H. Obama (Democrat, Illinois)

"David Kerley looks at the high-stakes duel over America's economic future." 

From ABC News

Speaker Boehner has already put tax reform that would include closing tax loopholes on the table, to pay for deficit reduction, President Obama has already put entitlement reform on the table to pay for deficit reduction as well. Thats what the final deal is. 

If Speaker Boehner is going to hold to this, for every tax loophole thats eliminated, other taxes have to be cut to offset closing the loopholes, then they should negotiate that as part as another stimulus bill to jump start the economy, that would also include things that Democrats want like more infrastructure investment and pay for that as well. 

This what they could do to avoid the fiscal cliff and boost the economy as well. So you would get deficit reduction and a stimulus, both paid for and done at the same time.

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