"John Boehner Proposes Millionaire Tax Hike In Exchange For Steep Entitlement Cuts

http://www.huffingtonpost.com/2012/12/15/fiscal-cliff-john-boehner_n_2308852.html

Let me get this straight, in return for taxes going back to what they should be for people who can't spend the money they have, they want to punish people who desperately need the money by cutting things that aren't part of the current short term deficit problem.
But cutting things like defense spending or corporate subsidies, that are part of the deficit, are off the table.
I hope the President isn't considering this compromise?