Moments ago, Boehner voted to enact "Obama's tax cuts", which is the new de facto Bush tax cuts (which expired yesterday), and which will raise the budget deficit over the next decade by $4 trillion, yet which at the same time paradoxically also hiked taxes on nearly three quarters of Americans with an emphasis on the wealthiest 1%. Now, Boehner also issues a statement [5]to advise his constituency just what issue he will cave on next: spending.
House Speaker John Boehner (R-OH) issued the following statement following passage of the Senate agreement on the fiscal cliff:
“The federal government has a spending problem that has led to a $16 trillion national debt that threatens our country’s future. On the day after the election, I proposed that both parties work together to avert the fiscal cliff in a manner that would ensure 2013 is the year we finally enact entitlement reform and pro-growth tax reform to begin to solve our country’s debt problem.
“Now the focus turns to spending. The American people re-elected a Republican majority in the House, and we will use it in 2013 to hold the president accountable for the ‘balanced’ approach he promised, meaning significant spending cuts and reforms to the entitlement programs that are driving our country deeper and deeper into debt.
“Without meaningful reform of entitlements, real spending controls, and a fairer, cleaner tax code, our debt will continue to grow, and our economy will continue to stumble. Republicans stand for a stronger, more prosperous America, rich in opportunity and free of the debt that threatens our children’s future. On this New Year’s Day, we renew our commitment to that vision, humbled by the opportunity to serve.”
And just in case anyone is still confused what happened today, the only thing the US voted through today was the Fiscal equivalent of 3 weeks worth of Fed debt monetization. Although at this rate, it is becoming a safe bet the GOP will cave on pretty much everything else too.