In what will likely be the final plan offered to raise the nation’s debt ceiling from $14.3 trillion, Harry Reid offered the unofficial-official surrender for Democrats – a plan that cut spending by $2.7 trillion dollars, with zero, nada, zilch revenue increase – just what Republicans have asked for all along.
Harry Reid, the Democratic Senate Majority Leader revealed the plan late Sunday, and asked the Republicans to join in what he called a “compromise.”
“We hope Speaker Boehner will abandon his ‘my way or the highway’ approach, and join us in forging a bipartisan compromise along these lines,” Reid said
And if you think House Minority Leader Nancy Pelosi is objecting, think again. Mrs. Pelosi released a statement congratulating Reid for the new plan, saying;
“I applaud Senator Reid for putting forward an approach to reduce the deficit that protects Social Security, Medicare and Medicaid beneficiaries.”
Democrats and President Obama have pushed Republicans to raise the debt ceiling, with a “balanced approach” to attacking the nation’s debt. That “balanced approach” was an original plan requiring around $3 trillion is spending cuts, but also asked Republicans to close some of the tax loopholes that the rich have profited from for decades.
Republicans held their ground and demanded more spending cuts with no revenue increase and this white flag from Harry Reid and the Democrats give the Republicans their win.
And although Nancy Pelosi indicates that the Big 3 will be left in tact, in time we will know if Republicans will celebrate another victory with spending cuts to Medicare, Medicaid and Social Security.
