Disappointing the Base

Budget bill veterans are saying it may already be too late for the Aug 2 deadline on raising the debt ceiling.

Democrats are offering Republicans a deal any sane party heading into a Presidential election would take, with a near 4 to 1 exchange of cuts to closing tax loopholes.  It's basically the roadmap to disaster they've campaigned for.  And they're still rejecting the deal.

Why? LA Times:

Frustrated by the GOP anti-tax stance, several Democratic senators Thursday pressed the case for ending loopholes for specialty interests. One such break allows racehorse owners to more quickly write off expenses, in what Sen. Jeff Merkley (D-Ore.) dubbed the "Bluegrass Boondoggle."

"Giving Triple Crown treatment to millionaires while workers are put out to pasture?" Merkley said. "That's not right. And it's not the American way."

GOP leaders have indicated in private meetings that they are willing to close some tax loopholes to raise revenue, but also have acknowledged that such a position would be difficult to sell to rank-and-file Republican lawmakers, said a senior administration official who would describe talks only on condition of anonymity.

Republicans are afraid anything but a full-hearted attempt to torpedo the economy in the name of austerity will disappoint their base.

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