Senator Reid has released his plan to deal with the debt limit and it is without any
tax increases. This is a great victory, but this plan is full of
gimmicks that are not real cuts in spending. Speaker Boehner has unveiled a
two step plan requiring another vote to increase the debt ceiling next year. President Obama, meanwhile, is still intent on
raising taxes and will be speaking on
television tonight. Expect the speech to be filled with more dire predictions of what will happen if the GOP does not give him what he wants.
Update: House conservatives are
rejecting Speaker Boehner's plan and Senator Demint
has too.
Heritage projects that Speaker Boehner's plan will eventually lead to
tax increases.