Boehner bails on grand bargain.
Statement calls for tax-free mini-deal.
White House pleas for stay-the-course.
Comm Dir Pfeiffer: “…to back off now will not only fail to solve our fiscal challenge, it will confirm the cynicism people have about politics in Washington.”
Boehner's move puts pressure on Hill Democrats to reject an all-cut deal. Before, a no-pact outcome seemed impossible; now it is easier to see default than not. It seems unlikely that Obama can get the group back to the grand bargain. But a $2 trillion package is going to have a lot in in for the bases of both parties to dislike, making it difficult to see how Senate passage occurs, let alone the House.