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Friday, December 28, 2012

Reid says fiscal cliff dive likely; blasts Boehner for lacking leadership

What qualifies as leadership when retaliation is the modus operandi of politics? Raising taxes and (selectively) reducing spending without addressing the core burden of ever-increasing interest payments on existing debt will only turn capital from much needed investment.  This discourages job creation and encourages stagflation.

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Headline: Reid says fiscal cliff dive likely; blasts Boehner for lacking leadership

With a deal to avert the so-called "fiscal cliff" nowhere in sight, Senate Majority Leader Harry Reid on Thursday predicted a compromise would not be reached in time to avert the tax increases and automatic spending cuts set to be triggered on January 1. Reid also criticized Republican House Speaker John Boehner in unusually personal terms, accusing him of running the House as a “dictatorship” and blasting him for letting lawmakers out for vacation.

Boehner will be to blame “if we go over the cliff, and it looks like that’s where we’re headed,” Reid insisted as the Senate returned to work for a post-Christmas session focused on disaster relief for Sandy victims and renewing key government surveillance powers.



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