Obama To Speak At 8:40 EDT

Above the post update:

Obama say leaders have agreed to $1 trillion in cuts, which were agreed to weeks ago. Cuts "won't be so" abrupt. Yeah, out years are for suckers.

Bi-partisan committee that reports by November. "Everything will be on the table"... there's the tax trap? I don't see how House GOP votes for that if the choice will be the possibility of taxes or slash defense. Unless there's some guarantee that won't happen, I don't see how this gets enough GOP votes in the House.

Via Andy...here's the PDF of the PowerPoint Boehner used to explain the plan to his conference.

Or not? From Boehner PP.

Requires baseline to be current law, effectively making it impossible for Joint Committee to increase taxes.

That from TendStl on Twitter.

The only person who is going to like this deal is Obama because he desperately wants to put off another debt hike debate beyond the '12 elections.

Via Hot Air, James Pethokoukis explains why insisting that current law be the baseline the joint committee uses makes it almost impossible for them to raise taxes.

Original Post:
For the love of God man...SHUT UP.

Reid is on Senate floor now (8:32pm edt) saying there's a deal to avoid default. McConnell says he'll be holding a Senate GOP caucus tomorrow to go over "the framework".

Obama will no doubt be out to start to take credit.

Meanwhile, Boehner is on a conference call right now with House GOP members. I bet that's a fun call.

I really hope Obama uses his speech tonight to reach out and repair relations with corporate jet owners.

posted by DrewM. at 08:30 PM

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