This may have been the most irresponsible presidential press conference in memory. The president threatened seniors with a cut off of Social Security, predicted a market panic on Monday morning, and then descended into the worst sort of demagoguery even as he denounced politics.

UPDATE: Speaker Boehner just announced he had agreed to $800 billion in revenue increases, and that the president then demanded $400 billion more.

This offer will shock the GOP Caucus which is against any “revenue hikes,” and hopefully the Speaker will soon announce that those tax hikes are off the table permanently.