10:10: The President and Vice President meet with governors at the White House
1:0: Press Briefing by Press Secretary Jay Carney
The President will participate on Tuesday in his first television interview since the election. Bloomberg’s White House correspondent Julianna Goldman will do the questioning. According to a preview, they will discuss the fiscal cliff and his priorities and agenda for his second term. The interview will air at 12:30 p.m. EST on Bloomberg TV. (See here)
Paul Krugman: It goes without saying that the Republican “counteroffer” is basically fake. It calls for $800 billion in revenue from closing loopholes, but doesn’t specify a single loophole to be closed; it calls for huge spending cuts, but aside from raising the Medicare age and cutting the Social Security inflation adjustment – moves worth only around $300 billion – it doesn’t specify how these cuts are to be achieved. So it’s basically the Paul Ryan method: scribble down some numbers and pretend that you’re a budget wonk with a Serious plan.
….. for all the seniors or near-seniors who voted Republican because you thought they would protect Medicare from that bad guy Obama: you’ve been had.
NYT Editorial: ….. under pressure from the White House, Republicans finally released their opening position in the negotiations – a remarkably shallow one that demonstrated a lack of seriousness in negotiations, or farsightedness in policy.
…. The only way to produce the necessary revenue is to combine some limits on deductions with an end to the Bush tax cuts on the rich, and Mr. Obama, fortunately, has been adamant he will not consider any plan that does not do so. The Boehner letter, by contrast, actually advocates lowering rates, suggesting that Republicans are still clinging to the notion, rejected by voters, that was put forward by Mitt Romney.
….. Monday’s offer may simply be intended to show the most conservative Republicans that their leaders fought before the compromises to come. For everyone else, they show a party unwilling to approach the bargaining with responsibility.
Eugene Robinson: How dare he? President Obama, I mean: How dare he do what he promised during the campaign? How dare he insist on a “balanced approach” to fiscal policy that includes a teensy-weensy tax increase for the rich? Oh, the humanity.
…. “Right now, I would say we’re nowhere, period,” said Boehner. “We’re nowhere.”
Not true. It’s just that we’re somewhere Republicans would prefer not to be. We’re just past an election in which Obama won a second term and Democrats gained seats in both houses of Congress. And we’re nearing a “fiscal cliff” of tax increases and budget cuts that horrify Republicans more than Democrats.
… There is no guarantee that Obama will get everything he wants out of this showdown. But I’d rather be playing the president’s hand than Boehner’s.