John Boehner Just Gave Up Hope For A "Big" Debt Deal

John Boehner

Photo: US Congress

No grand bargain on the debt and the debt ceiling.New goal: A small deal, somewhere around $2 trillion in spending cuts.

John Boehner just put out the following:

“Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase.”

There are a couple interesting things here.

One is that Boehner seems to think a smaller deal could pass his House.

He’s also saying that the Biden talks were somewhat productive, which further emphasises how calculated and political it was when Eric Cantor walked out of the negotiations.

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