The Obama Diary

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Steve Benen: … let’s note two broader truths. The first is that Republicans don’t really give a damn about debt reduction. They care about taxes and shielding the wealthy from having to pay a little more. The parties, then, are talking past one another — Dems think they’re involved in a good-faith effort to reduce the budget shortfall with a sensible, balanced approach to bring the budget closer to balance. Republicans think they’re involved in an effort to cut spending — not because of the deficit, but because it’s what they like to do anyway — and protect tax giveaways.

… The second is that Republicans, as is their new nature, simply can’t bring themselves to even consider compromise. Americans elected a Democratic president, a Democratic Senate, and a Republican House. Given these circumstances, GOP leaders are absolutely convinced that the only fair resolution is that Republicans get everything they want, and Dems simply go along. And if Dems balk, Republicans will crash the economy on purpose.

It’s nothing short of insane.

Talks will resume today, and are scheduled to continue, literally every day, until there’s an agreement.

Full post here

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Jonathan Cohn (TNR): Does anything matter to Republicans more than protecting tax cuts for the very wealthy? Developments of the last 18 hours suggest very strongly that the answer is no.

… Such a large deal would have required Republicans to agree to new revenue, in some form. And at least some of that money would have come from higher taxes (in terms of total collections, if not rates) on the very wealthy. Boehner hinted that might be acceptable, as part of a compromise….

But other Republican leaders, like Majority Leader Eric Cantor, and certain conservative agitators, like the writers of the Wall Street Journal editorial page, made very clear they disagreed. No matter how big the Democratic concessions, no matter how risky the prospect of postponing a deal on the debt ceiling, they were not willing to embrace a package that meant higher taxes, particularly taxes on the wealthy. And according to reports in this morning’s papers, those voices finally prevailed.

…. as the skeptics, like my colleague Jonathan Chait, were predicting all along, Boehner isn’t really in charge of the House Republican caucus. The lunatics are. And it looks like they’ve won.

Full post here

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Ezra Klein: The more I hear about the breakdown of the debt deal, the more this seems to have been a straightforward humbling of John Boehner. Here’s how a Democratic aide described the talks to Politico’s Mike Allen:

A number of folks in the room were struck by the fact that Cantor did virtually all of the talking for House Republicans, while Boehner basically just sat there.

Think that’s just Democratic spin? Here’s how a top Republican lawmaker described it to John Bresnahan, Jonathan Allen and Jake Sherman:

“It’s crazy to think the speaker was considering a trillion [dollars] in tax increases. After all, we’re the anti-tax party,” said one veteran Republican lawmaker close to leadership. “Cantor brought him, the economy and our party back from the abyss. Cantor is strengthened, clearly. And it’s another example of the speaker almost slipping beyond the will of the GOP conference.”

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