It’s true; the spending isn’t just out of control, it makes any budgetary discipline potentially unretrievable.
PASSED:
And now, the “Debt Reduction Act” has passed the House. 269 to 161. Likely, the Senate will pass it as well.
The debt ceiling immediately goes higher by roughly a trillion dollars. And it is not, repeat: NOT a “cut.” It only reduces debt increases from $10 trillion to $7 trillion. That’s a cut??
It is, however, a classic win/win for DC Hack Politicians on both sides of the aisle, and for Mr Obama, because it extends the debt ceiling to 2013, AFTER his campaign for 2012 — so it won’t be a stumbling block for him during re-election. That was what he was really after.
This is an abortion on toast, ladies and gentlemen; and YOU, the American Taxpayer, have just been taken to the woodshed by DC. You have been fleeced once again, because:
There are NO CUTS in this bill.
BZ
P.S.
PASSED!
The Senate passed the bill, 74 to 26, and Mr Obama signed it this morning. With that, everything should be wonderful, should it not? The resulting econo-quake — as per the Demorats — has been averted, yes? Uh, no, not quite. . .
Even the title is a big fat lie, Debt Reduction my eye. I’m surprised at folks like Paul Ryan, who voted for it and even said it is the best we can get now, a good first step.
We’re doomed
Debbie
Right Truth
http://www.righttruth.typepad.com
You’ve got it right BZ. A trillion in cuts spead out over 10years amounts to nothing—even if they are realized. Just more kicking the old can down the road–thing is, this is a dead end road and sooner rather than later the road will end and all of us will be left holding the bag thanks to the political elites in DC.
Debbie, yes, it IS a big, fat lie. But SOME people chose NOT to vote for it. A very select few.
Ron, the only thing this did is serve to NOT remind people that Barack Obama is an incompetent come 2012. He got precisely what he wanted: NO reminder of this until 2013, AFTER his campaign.
BZ
We have our work cut out for us, don’t we? It’s time to send them to the woodshed and give them a political beating!
You are correct, the only “real” cuts will be in Military funding… at least $400M, possibly $1B if the super congress doesn’t get it’s job done.
The election November 2012 will be about keeping our Constitution or going socialist/communist.
It’s that simple.
Be prepared and vote accordingly.
molon labe
Excellent video! I’ve nabbed it for next week.