#1 Deal Reached: Progressive Hostage Metaphors Hardest Hit
07-31-2011, 08:28 AM
- Join Date
- Aug 2005
ABC has word that the deal is still tentative, but here is the outline:
Debt ceiling increase of up to $2.8 trillion
Spending cuts of roughly $1 trillion
Instead of Harry Reid’s bogus war savings, a commission will be appointed to recommend cuts totaling $1.8 trillion, thereby equaling the amount of the debt ceiling increase. That’s certainly an improvement over the Reid plan if the other cuts actually happen. I have my doubts whether the Democrats will follow through or simply use what they’ve already agreed to to demagogue the issue some more.
So the bottom line is that both sides avoided their non-negotiables. No tax increases which the House GOP refused to consider and the debt limit is raised enough to take this off the table next year, which the President demanded. Our credit rating will still get downgraded somewhat but the chance of default, which was never much of a chance, goes to zero.
The real downside is that the pressure is now off the President for the rest of his term and we didn’t make any real progress in addressing entitlements. None. We’re still living in the left’s Michael Moore fantasy world where trillions in unfunded liabilities aren’t really a problem. Maybe it really is going to take a major downgrade for these people to catch a clue.
07-31-2011, 11:31 AM
'Let's Cover the Moon with Yogurt'..........
[youtube]WtCBML4kr2Q[/youtube]Liberals: Obama's useful Idiots
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