Are Tax Increases More Important to Democrats Than Avoiding Default? Reid Won't Say
4:17 PM, Jul 14, 2011 • By JOHN MCCORMACK
Majority Leader Harry Reid and the rest of the Democratic leadership held a press conference in the Capitol today with Treasury Secretary Timothy Geithner to warn of the financial calamities--market turmoil, cuts to seniors and the troops--that they say will occur if the debt ceiling is not raised by August 2.
If the consequences of raising the debt ceiling are so dire, why are Democrats insisting on a deal that includes tax increases?
Would Senate Democrats at least allow a vote on a debt ceiling deal that cuts spending without raising taxes? At today's press conference, Harry Reid refused to say:
Of course, the purpose of the press conference was to discuss how, in private negotiations, ideological Republicans had hijacked talks and insisted on a deal that raises the debt ceiling, cuts spending, but doesn't raise taxes. Are Democrats just as committed to a deal that does raise taxes? It seems so, but we won't know for sure as long as the House hasn't passed a bill.
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