Republican co-chair Jeb Hensarling...claimed that if the committee recommended even a dollar of new net tax revenue — the kind of revenue Dems are demanding — it would constitute a step in the wrong direction. He said a GOP plan put forward by Sen. Pat Toomey (R-PA) — one which Republicans claim would raise revenues by nearly $300 billion over 10 years, but would also make the Bush tax cuts permanent — is as far as Republicans are willing to go on revenues. But that’s an offer Democrats flatly rejected as unserious.
Instead the GOP intends to let it all fail and make sure there are never any cuts to the military...much to Leon Panetta's ultimate satisfaction (fine messaging as ever Obama Administration). This leaves Democrats in their familiar position of negotiating with themselves. Now they alone can be seen as failing to obtain any tax increases on the wealthy while further screwing the poor and middle classes. Despite having the public ostensibly on their side.
Oh, well played Democrats, well played as ever.
[cross-posted at Firedoglake]