House Speaker John Boehner addressed one of the biggest sticking points for the 12 member Congressional "supercommittee" today, acknowledging that any bipartisan agreement will need to include some new tax revenue.
"I think there is room for revenues, but I think there clearly is a limit to the amount of revenues that are available," Boehner told reporters.
The comment was significant because Boehner and other Republican leaders have repeatedly insisted that tax increases are off the table, and most Republicans in the House and Senate have signed a "taxpayer protection pledge" vowing not to raise taxes.
I think that nothing will be done...the OBama Tax Cuts for the Wealthy will expire and provide over $4trillion in revenue over the next 10 years. The best deal the Super Commitee can come up with is only about $1.2trillion in savings...so why not just do nothing???