As the debt limit fight comes to a head, Democrat Senate Majority Leader Harry Reid seems confused – he is requiring tax increases in order to discuss tax cuts.
The CBO reported to Congress that if they allow the Bush tax cuts to expire and implement the defense cuts resulting from the Reid’s failure to negotiate on spending, the economy would drop into recession in 2013.
Congress is looking at the butt end of a car they drove into a ditch by following Obama’s lead and putting it firmly into “D for Drive” even though that muck-filled crevasse was but a short distance ahead. Now the Democrats are willing to drag that car through the ditch on the way to a cliff.
Arguments of austerity vs. taxation are nothing new, but now Harry Reid is waging taxation against itself in a highly-circular argument.
Reid (D-NV) signaled Tuesday that he will allow the automatic spending cuts and tax increases called for in last year’s debt deal to go into effect unless Republicans agree to tax increases. Reid said that if Republicans want to walk away from the deal made last year by extending the Bush tax cuts, “they will have to work with Democrats to replace them with a balanced deficit-reduction package that asks millionaires to pay their fair share.”
Reid is basically saying that he will allow the tax increase to happen unless Republicans agree to raise taxes. There is no situation in which Reid seems to be ready to negotiate – it’s tax increases or nothing for the failing leader of a non-productive Senate.