House Majority Leader Eric Cantor
made the correct choice in exiting negotiations with Democrats over the debt limit, says Tevi Troy, a senior fellow at the Hudson Institute. Cantor bolted because Democratic negotiators insisted on tax increases.
“The Democrats are trying to break out their playbook from 1990, when they convinced President George H.W. Bush to agree to a tax hike despite Bush's ‘no new taxes’ pledge at the 1988 Republican convention,” Troy wrote on Politico
“Republicans, however, recall that Bush lost in 1992, partially as a result of breaking that pledge. Cantor's move shows how serious the Republicans are about sticking to their guns on taxes, and Democrats had better understand that if they want to cut a deal on the debt ceiling.”
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