Sunday Grand Bargain Alert! Woodward Leak--Obama-Boehner "Grand Bargain" Agreement
[Hat Tip to Mr. Alexa for tipping me off to this leak.]
White House Grand Bargain offer to Speaker Boehner
Obtained by Bob Woodward Sun Nov 11, 2012 11:58 AM EST
Below are documents obtained by the Washington Post’s Bob Woodward that show a grand bargain proposal the White House was prepared to make in July 2011, in order to reach agreement with the House Republicans last year. This is how Woodward described the documents on Meet the Press this morning:
"This is a confidential document, last offer the president -- the White House made last year to Speaker Boehner to try to reach this $4 trillion grand bargain. And it's long and it's tedious and it's got budget jargon in it. But what it shows is a willingness to cut all kinds of things, like TRICARE, which is the sacred health insurance program for the military, for military retirees; to cut Social Security; to cut Medicare. And there are some lines in there about, "We want to get tax rates down, not only for individuals but for businesses." So Obama and the White House were willing to go quite far."
Unfortunately, I am unable to "copy and paste" the actual document, only the notes by NBC regarding Woodward's appearance on Meet the Press. Here's the link to the NBC news release containing the Obama-Boehner proposed agreement.
This document specifically mentions enacting the least deep of the three recommended cuts--the change in the CPI-Index to the Superlative CPI, which lowers Social Security (and all transfer programs) Cost of Living Allowance (COLA).
But it also ominously agrees to a .07% reduction (including the Superlative CPI) as a percentage of taxable payroll, with a balanced package of tax and benefit "changes." This is where one or both of the two deeper cuts could come into play--raising the retirement age to 69 (or 70), and/or "means testing," the most draconian cut of all.