Obama talks about the Grand Bargain, and the campaign permits it to be published after the newspaper pitched a fit. Via Digby:
It will probably be messy. It won’t be pleasant. But I am absolutely confident that we can get what is the equivalent of the grand bargain that essentially I’ve been offering to the Republicans for a very long time, which is $2.50 worth of cuts for every dollar in spending, and work to reduce the costs of our health care programs.
And we can easily meet — “easily” is the wrong word — we can credibly meet the target that the Bowles-Simpson Commission established of $4 trillion in deficit reduction, and even more in the out-years, and we can stabilize our deficit-to-GDP ratio in a way that is really going to be a good foundation for long-term growth. Now, once we get that done, that takes a huge piece of business off the table.
[...] Now we’re in a position where we can start on some things that really historically have not been ideological. We can start looking at a serious corporate tax reform agenda that’s revenue-neutral but lowers rates and broadens the base — something that both Republicans and Democrats have expressed an interest in.
As Digby points out, this is the bargain Obama offered the Republicans the last time:
T]he major elements of a bargain seemed to be falling into place: $1.2 trillion in agency cuts, smaller cost-of-living increases for Social Security recipients, nearly $250 billion in Medicare savings achieved in part by raising the eligibility age. And $800 billion in new taxes.
I don’t know about you, but this is only a “bargain” to millionaire politicians. I’m not interested in sacrificing myself on the altar to the deficit gods. Nope. Particularly when cutting government services during a recession is a surefire way to stall a recovery, just like 1937 when FDR gave into the Republicans on deficit reduction.
Those who do not learn from history, etc.