Monday, December 31, 2012

I seem to be missing something...

This is the result of $110 billion in annual spending cuts, and they call it a "meat axe"; but the deficit is that plus $1Trillion.  Exactly how do they plan to cut the $1T if they can't even bring themselves to cut the $110 billion?  Mort Zuckerman (elsewhere) pointed out that the annual interest on the debt is actually around $360 Billion (this despite the fact that the Federal Reserve is buying the debt at whatever rate the Treasury wants to sell it at).  I just, well, don't see how this ends well, or even just 'badly'.

I'll point out again what I'd said before: there should be no more debt ceiling increases.  Make Obama and the lefties actually sell what they're shoveling instead of getting away with the back door inflation tax that only enriches the well off while piking everyone else.

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