It doesn’t look like we’re going to get the $4 trillion deficit-reduction deal President Obama has been talking about. So what happens next? Seeing the recent breakdown in talks, it’s hard to imagine what Obama and Vice President Biden thought they were going to get in these negotiations.
The Republican House will not pass a tax increase. If the only deficit-reduction deal acceptable to the Obama White House is one with a tax increase, then there can be no deficit-reduction deal right now.
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