During last summer's federal debt ceiling crisis, House Speaker John Boehner and Barack Obama came close to a 'Grand Bargain' to manage out-of-control government spending. After negotiations broke down, Boehner and Obama both essentially blamed the other for failing to reach a deal. It's been mainly a he said/he said sort of argument.
Until now.
A New York Times Magazine article examines the negotiations between Boehner and Obama, and sheds new light on whom to believe. Rather surprisingly, it supports Boehner's contention that Obama reneged on a deal by demanding last-minute spending increases. Matt Bai writes:
Until now.
A New York Times Magazine article examines the negotiations between Boehner and Obama, and sheds new light on whom to believe. Rather surprisingly, it supports Boehner's contention that Obama reneged on a deal by demanding last-minute spending increases. Matt Bai writes:
"If you shake hands with a guy on the price of a car, and you agree to talk again after the car has been inspected and the loan has been approved, you don't really expect to show up and find out that car now costs $5,000 more."Matt Bai also writes that Boehner thought he had worked out a deal with Obama, a deal which included $800 billion in additional revenues, largely from future growth. This would be worked out through projections involving a "macro estimate":
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