WASHINGTON -- After another round of failed negotiations with Republicans over the weekend, Senate Majority Leader Harry Reid (D-Nev.) on Sunday night laid out Democratic leaders' latest — and likely final — proposal for a deficit reduction deal: $2.7 trillion in cuts, a debt ceiling hike through the end of 2012 and no revenues.
The proposal "meets Republicans' two major criteria," Reid said in a statement. It includes enough spending cuts to meet or exceed the amount of a debt ceiling raise through the end of 2012, and it doesn't includes any of the new revenues Democrats have been pushing for.
"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.
HuffPost Article
This diary will be brief, I saw this posted on Huffington Post and I'm tired of waiting for some one to post more information on it... so I ask those that are more politically astute than I...would you mind decoding what exactly Reid means by this.
I mean frankly, they could have done this weeks ago, capitulate to Republicans. I don't get it.
In the comments below David Koenig mentioned the David Gergen Op-Ed, which I think is pretty good. So I'll include it with this diary....thanks David.
No way to run a country.