GOP Outraged! Obama's Budget Proposal Rejected

Republicans familiar with a new White House offer on avoiding the so-called fiscal cliff say it looks almost exactly like President Barack Obama's budget proposal last February. GOP aides say Treasury Secretary Tim Geithner presented an offer calling for $1.6 trillion in new tax revenue over the coming decade, extending the 2 percentage point payroll tax deduction or something comparable to it and $50 billion in stimulus spending on infrastructure projects. The White House plan calls for $960 billion over the coming decade by increasing tax rates and taxes on investment income on upper-bracket earners and $600 billion in additional taxes. Republicans view the offer as a step backward with the fiscal cliff -- an economy-rattling set of automatic spending cuts and tax increases -- looming at years' end."* Cenk Uygur, John Iadarola (Host, TYT University) and Mark Thompson (TV Host) discuss the Republican reaction to Obama's budget proposal. Should they be outraged if Obama made his intentions no secret? Should Obama be expected to negotiate with himself? *Read more from Andrew Taylor/ AP via Huffington Post: www.huffingtonpost.com Support The Young Turks by Subscribing bit.ly Support The Young Turks by Shopping bit.ly Like Us on Facebook: www.fb.com Follow Us on Twitter: bit.ly Buy TYT Merch: theyoungturks.spreadshirt.com Find out how to watch The Young Turks on Current by clicking here: www.current.com
Author: TheYoungTurks
Duration: 5:47



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GOP Outraged! Obama's Budget Proposal Rejected