Republicans Walk Away from $4 Trillion in Spending Cuts

Worth Clicking: Blasts from the past wound Romney

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July 11, 2011

Republicans Walk Away from $4 Trillion in Spending Cuts

First Read: "Six months ago, how many Republicans would have believed: 1) that the Obama White House would have backed a plan to reduce the deficit by $4 trillion over the next 10 years; 2) that the president would agree to link the debt limit to spending cuts; and 3) that Obama would put Medicare and Social Security on the table? The Tea Party and deficit hawks like Jim DeMint would have won the argument when it comes to debt, and they would have achieved something -- especially on Medicare and Social Security -- they'd probably never get under a Republican president, unless he or she had a filibuster-proof majority in the Senate. But Republicans walked away from the deal, because they wouldn't give up the one thing that Democrats were asking for in return: any increases in tax hikes for the rich."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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July 11, 2011