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November 08, 2012

Back to Work

First Read: "Today is President Obama's first full day back at the White House since his re-election. And with the so-called "fiscal cliff" approaching -- the expiration of the Bush tax cuts, as well as the looming defense and other spending cuts -- the Obama White House faces this question: Do they go for a big deal now? Some are skeptical, even inside the White House; after all, they've been burned before (see: debt-ceiling fight). On the other hand, this might be their best (and perhaps only) opportunity to go big on tax reform and deficit reduction -- and get it done on their terms. And congressional Republicans face their own question: How much fight do they have in them?"

"Yesterday, House Speaker John Boehner gave this statement: 'In order to garner Republican support for new revenues, the president must be willing to reduce spending and shore up entitlement programs that are the primary drivers of our debt.' For what it's worth, many Democratic officials were impressed with how serious Boehner sounded about striking a different tone. It's why there wasn't much of an immediate response negative or positive. Wait 'til next week for a more official posture."


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