Have no fear, Dingy’s here to save the day!

(CNS News) — As House Republican leaders try again on Friday to find enough votes to pass an admittedly imperfect debt-ceiling bill, Sen. Harry Reid said time has run out, and it’s up to Democrats to act.

Reid, speaking from the Senate floor Friday morning, said he will introduce his own debt-limit bill.

“This is likely our last chance to save our nation from a default,” he said.

Reid’s plan does not include tax hikes, and Reid says it would cut $2.5 trillion from the deficit over a decade. Republicans say the Democrat spending cuts are gimmicks.

But according to Reid, the Republican bill “is not a solution” because it would raise the debt limit in two stages.

“As experts say, all too soon we would be back in the midst of partisan wrangling with our economy once again held prisoner by extremists,” Reid said — a reference to tea party conservatives who are blocking a vote on Boehner’s bill. The conservatives are calling for fundamental change in government spending.

Reid has said the Boehner bill is dead on arrival in the Senate — if it ever gets to the Senate.