The Debt Ceiling Deal

See this article:
http://www.huffingtonpost.com/2011/08/04/dow-jones-industrial-closes-down-513-points_n_918796.html?utm_source=DailyBrief&utm_campaign=080511&utm_medium=email&utm_content=NewsEntry&utm_term=Daily%20Brief

It's unbelievab­le. The media is still reporting that "the debt ceiling deal enacted large spending cuts over the next decade." This is a lie. There are no spending cuts. Spending will grow and grow, just at a slightly lower rate of increase IF the plan is enacted. So we are buying a smaller yacht instead of a luxury yacht, even though we are barely paying our bills. Is this "savings?" According to the illogic of government and the media, it is.

We just went through this with the sub-prime mortgage crisis! Banks were selling expensive mortgages to people living in trailer parks, and they knew Fanny Mae and Freddy Mac would pick up the tab (meaning, of course, that the taxpayer picked up the tab). Now we are doing it again?

I have a suggestion­: let's all go out and buy Rolls Royce's-- but we'll buy the less expensive model, and we'll have "spending cuts."

3 thoughts on “The Debt Ceiling Deal

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  2. I need to comment here, which isn't one thing I often do! I take pleasure in reading a website that will make individuals think and you've certainly managed to do that. Also, thank you for allowing me to comment!

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