The Hill News

When it takes about five minutes for President Obama and Senate Majority Leader Harry Reid (D-Nev.) to sign on to a new debt deal, perhaps Republicans should look for the trapdoors.

Based upon press reports, here are just four.

Contrary to what the deal states, it actually guarantees a tax increase. The “deal” sets the CBO economic assumptions up as the inviolable guideline that Congress must follow. The CBO has the expiration of the 2003 tax cuts cooked into the books effective 2013. So Congress will now be forced to allow taxes to rise, a guaranteed tax increase.

Read more...