(Bloomberg) Senate Majority Leader Harry Reid predicted that Congress will reach a deal after the Nov. 6 election to avert hundreds of billions of dollars in tax increases and spending cuts known as the “fiscal cliff” set to begin in January.
Got that? Harry Reid, who hasn't been able to pass a budget in over three years is confident that between the election and the end of the year, that Congress will pass a bipartisan agreement, to avoid Taxmageddon and massive automatic budget cuts to the military.
Between November 6th and December 31st, a little over a month and a half, with just Thanksgiving, Christmas and New Year's Eve in the way, Harry Reid is going to reveal all the economic plans he and the president have for the country but couldn't in any way reveal before the election, if they had a prayer of keeping their jobs and make all the country's problems go away. . That's going to happen. Yeah. Right!
“I do not believe that we are going to go over the fiscal cliff,” Reid, a Nevada Democrat, told reporters in Washington Thursday, adding that he opposed a short-term deal. “I’m in favor of long term.”
Unless Congress acts, $1.2 trillion in automatic spending cuts will begin in January and the George W. Bush-era tax cuts will expire Dec. 31. The Congressional Budget Office estimates that the fiscal changes would amount to $607 billion in tax increases and spending reductions for 2013 alone. Democrats propose letting tax cuts expire for top earners, while Republicans want to extend the tax cuts for everyone and back spending reductions instead of more tax revenue.
If you happened to catch tonight's presidential debate, Obama nattered on about how Mitt was "hiding" the cuts he intends to make and the loopholes he intends to close. And here, Harry Reid and the Democrats, believing we are heading for a fiscal cliff, are hiding all their cuts, hiding their spending plans and hiding every plan they have to deal with this economic mess, from you and I. They have to deal with over a trillion dollars worth of cuts, one way or the other, but are too cowardly to tell their bosses, the American people what they plan to do, until after its too late to change your vote this November, much like they failed to pass a budget in October of 2010, 'less their losses would have been even bigger. They are willing to gamble the economic future of this country, and everyone in it, for the sake of partisan political gain.
Harry Reid and the Democrats have nothing but contempt for you. Return the favor on November 6th.
Cross posted at Proof Positive