Republican Party Makeover Hits a Snag

Rep. Paul Ryan (R-WI) confirmed to ABC News that Republicans would not agree to any new revenues in order to avert the automatic, across-the-board budget cuts which will hit on March 1.

Greg Sargent: “What keeps getting lost here is that if Republicans did agree to new revenues, they’d likely get more in new spending cuts than they’d have to concede in new loophole closings.”

Jonathan Chait: “Obama has been offering to reduce spending on Social Security and Medicare for two years now, in return for Republican agreement to spread the burden of the fiscal adjustment. They won’t take the deal… if Republicans want to reform their party’s identity and make it into something other than absolutist advocacy of low taxes for the rich, they need to come up with some negotiating position on fiscal issues other than ‘no tax hikes for the rich of any kind no matter what we get in return.'”