What you need to know about the Reid Debt Ceiling Plan

This is the part that isn't included in today's news coverage of Majority Leader Reid's debt proposal that "gives Republicans what they demand."

Rubin: Reid's Debt-Limit Proposal is a Sham

A Capitol Hill source with knowledge of the plan tells me: "It includes $1.2 trillion in OCO [Overseas Contingency Operations] savings . . . which was assumed anyway, $1.2 trillion (over $1.1 trillion less than [Majority Leader Eric] Cantor identified in the Biden talks) and $300 billion in interest savings."

Predictably, Obama likes it.

Obama Administration Posted by JohnGalt at July 25, 2011 4:02 PM