|Speaker John Boehner|
"But according to the New York Times, a White House official confirmed that the president had agreed over the coming decade to cut $250 billion from Medicare spending and $310 billion from other domestic entitlement programs, like farm subsidies and education programs.
"He was also willing to change the formula for Social Security cost-of-living adjustments, which many economists say would more accurately reflect inflation, for savings of about $125 billion more. These concessions were contingent on Boehner and his colleagues agreeing to higher taxes for wealthy Americans and corporations.
"The breakdown in negotiations between President Obama and Rep. Boehner was the second time this month that Boehner had walked away from the table with the president after word of their private talks was leaked to the news media, provoking protests from Republican lawmakers and antitax conservative groups.
“I’ve been left at the altar now a couple of times,” President Obama said. “And I think that one of the questions that the Republican Party is going to have to ask itself, [is] can they say yes to anything?” (Rolling Out, July 22, 2011)
Jell-O Images of "fruit flavored"Obama.