Dems Want $1 Trillion in New Revenue, Frank Withdraws Opposition to Hagel, NHL Ends Lockout: P.M. Links

• Hang on to your wallets: Democrats want $1 trillion in new revenue to "balance" spending cuts, of which there really aren't any.

• The defense industry, though, is worried that there will be spending cuts, someday, eventually.
• Senate Majority Leader Harry Reid, expressing the canny wisdom for which he is so beloved, said that Hurricane Sandy was much worse than Hurricane Katrina. His statement was both rather tacky and factually incorrect.  
• Former Rep. Barney Frank has withdrawn his opposition to President Barack Obama's choice of former Sen. Chuck Hagel as secretary of Defense, in part because neoconservatives apparently dislike Hagel a whole lot.
• The NHL has ended its four-month lockout, salvaging a 50-game season.
• The Supreme Court declined to hear a case Monday that challenged federal government rules over what groups are classified as Political Action Committees and therefore face more stringent donor and spending disclosure rules.
• China's chief law enforcement official wants to stop sending convicted criminals and political dissidents to labor camps as punishment.

Have a news tip for us? Send it to: [e-mail].

The updated Reason app for Apple and Android now includes Reason 24/7!

Follow us on Facebook and Twitter, and don't forget to sign up for Reason's daily updates for more content