Progressives were having conniptions when details of Obama's never-consummated deal with Boehner emerged. Three trillion in spending cuts, just $800 billion in new revenue -- no more than expiration of the Bush tax cuts for the wealthiest 2% of Americans would yield, and less than half the amount proposed by the right-leaning Bowles-Simpson plan.
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Larry Summers hearts the busted Obama-Boehner…
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Progressives were having conniptions when details of Obama's never-consummated deal with Boehner emerged. Three trillion in spending cuts, just $800 billion in new revenue -- no more than expiration of the Bush tax cuts for the wealthiest 2% of Americans would yield, and less than half the amount proposed by the right-leaning Bowles-Simpson plan.