Thursday, August 04, 2011

That Debt Ceiling Thing

Those of you on The Left who might be upset that federal spending is being cut can relax. As the Cato Institute explains, it doesn't seem like there are any spending cuts in the recent debt ceiling agreement. It looks like it's just another case of spending not increasing as much as some would like.

Oh, and it seems Obama was against raising the debt ceiling before he was for it.


At 9:52 AM, Anonymous Anonymous said...

Yes Fred, there will no cuts, assuming we end our wars today, the economy improves, and we begin producing a surplus. Projecting income makes all things possible. Best you step outside libertarian news sources and learn about how the real world functions. If you did, you might know Obama addressed the vote in numerous interviews long ago.

At 10:10 AM, Blogger Fred said...

We're not going to end the wars any time soon, Bill. The economy is unlikely to improve to any great extent and it's highly unlikely we'll produce a surplus in my lifetime.

Cuts? Maybe, but we'll likely just keep printing money to pay for to keep things going.

At 4:13 PM, Anonymous Anonymous said...

ANON 9:52: We can end the war in Irag and Afghanistan, but that would only account for about 100 billion or so a year. The BIG items in our budget are so called entitlements: social security, Medicare, Medicaid, and welfare we can also throw Obamacare into the mix as this will cost close to a TRILLION DOLLARS starting in 2014). Or course those items will be left off the table.

At 7:57 AM, Blogger Fred said...

Good point, 4:13.


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