President Barack Obama will veto a comprehensive deficit reduction package if it includes cuts to entitlement program benefits but no tax hikes on the wealthy or well-to-do corporations, senior advisers said on Sunday.
The veto threat is an addendum of sorts to a $3 trillion-plus set of deficit reduction proposals that the White House will make to the congressional super committee tasked with comprehensive deficit reduction.
But if administration officials are to be believed, it is now a principle by which the committee must act and it raises the specter of gridlock.
Just last week, House Speaker John Boehner insisted that tax hikes should be off the table.
"[W]hat the president is saying is he is not doing [beneficiary reforms] if the Republicans are unwilling to ask the wealthiest Americans and biggest corporations to pay their fair share," explained a senior administration official.
"What they can't do is send something to us with the things we propose and without the stuff on the revenue side because we will veto that."
You can't add four trillion to the deficit between June of 2010 and January 2011, then call for 3 Trillion in cuts over ten years the "spine" you need to get us back under the Constitution.
It's like being whipped, it feels so good when they stop.
About fourteen trillion short.
I got about three trillion we could save if we'd stop bombing camel jockeys out of existence for Jesus and stop building half assed half measure weapon systems that have us in fist fights house to house in Fallujah, when we've nuclear deterrance to get the world in order.