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Obama And Boehner Back To Speaking Again About A ‘Grand Bargain’

ABC’s Jonathan Karl reports that Speaker of the House John Boehner and President Obama are again back in some type of communication and trying to work out “a large-scale deficit reduction plan that would include cuts to entitlement programs and increases in tax revenues.” The on-again, off-again relationship between these two is hard to keep track of, but for the moment it seems back “on.”

Such a “grand bargain” was confirmed to still be a possibility by Treasury Secretary Tim Geithner in his Sunday morning show appearances. Karl suggests that the deal is likely to represent about $3 trillion in spending cuts and $800 billion in additional tax revenue. Yet given that Republican leadership in the House is opposed to any hike in taxes, it seems that if such a compromise does get worked out, then Boehner would have a whole new group of people angry with him.

Check out the full report at ABC’s The Note.

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