Last week, at a blogger meetup on the Hill, Nancy Pelosi provided an outline for a debt plan that sounded a lot like what Harry Reid is proposing. TPM's Brian Beutler wrote about it here. So, it's not a surprise that Pelosi is supporting Reid's plan. But, the first line of her statement sure made me feel uncomfortable. I guess we can be happy that, unlike the President, Reid and Pelosi don't want to share the sacrifice by cutting by cutting Social Security and Medicare. Here's the statement:
“It is clear we must enter an era of austerity; to reduce the deficit through shared sacrifice.Republicans got us into the financial mess. Yet, they've completely defined the debate.
“The President has called for a ‘grand bargain,’ which provides long-term deficit reduction based on shared values and sends a message of confidence to the markets.
“The latest proposal from the House Republicans is a short-term plan that burdens the middle class and seniors, and continues this debate about whether we will default in a few months from now.
“Senator Reid has put forward a responsible plan to reduce the deficit that protects the middle class, and Medicare, Social Security and Medicare beneficiaries. It also includes many proposals already supported by Republicans.
“We must come together for an agreement because our economy and middle class will suffer from a default.”
If Reid's plan were to pass (and who knows if it even has a chance), at least House and Senate Democrats can hold on to the Medicare issue and they won't have to run against Obama's efforts to cut it. Same for Social Security. It was heading that way -- and still may.
And, if anyone in DC did anything about creating jobs, many families and the country would be in a better place financially.
Also, Boehner will be giving a rebuttal after Obama's 9:00 PM ET speech tonight.
