On Monday, Senator Schumer said the Reid Plan would cut spending equal to the amount of the debt ceiling increase. Incorrect sir.
- Senator Schumer: The Reid Plan Will Cut Spending Equal To The Amount The Debt Ceiling Is Increased. I’m not going to get into the details of the Reid program, but it will do as I said those three things: it will go past 2012, it will have as many cuts as increasing the debt ceiling, it will have no revenue. (Morning Joe, 7/25/11)
- CBO: Reid Plan Would Cut Deficit By $2.2T, Raise Ceiling By $2.7T (The Hill, 7/27/11)