From 3:13 p.m. this afternoon.
All at once, a “fiscal cliff” deal seems to be coming together. Speaker John Boehner’s latest offer doesn’t go quite far enough for the White House to agree, but it goes far enough that many think they can see the agreement taking shape.
On the spending side, the Democrats’ headline concession will be accepting chained-CPI, which is to say, accepting a cut to Social Security benefits. Beyond that, the negotiators will agree to targets for spending cuts. Expect the final number here, too, to be in the neighborhood of $1 trillion, but also expect it to lack many specifics. Whether the cuts come from Medicare or Medicaid, whether they include raising the Medicare age, and many of the other contentious issues in the talks will be left up to Congress.
While this doesn't surprise me, it surprises me. And shame on Obama and any Democrat who agree to this deal. They're "supposed" to be the good guys, or so I used to think.
And would Ezra Klein post this is it weren't true? I don't know his track record, so I can't say what the odds are.