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The Congressional Budget Office estimates that the latest triumphant deal includes $2 billion of cuts for fiscal year 2013. Wow! That's what the Government of the United States borrows every 10 hours and 38 minutes. Spending two months negotiating 10 hours of savings is like driving to a supermarket three states away to save a nickel on your grocery bill.
This latest painstakingly negotiated bipartisan deal to restore fiscal responsibility actually includes a third of a trillion dollars in new spending. A third of a trillion! $330,000,000,000!
it's paid for by all the new revenue – an estimated $620 billion over a decade, or about $62 billion a year, which is what the Government of the United States borrows every 13 days
On Monday, 300 million Americans did not know what their tax rates would be on Tuesday. That's ridiculous. Then, Senate Minority Leader Mitch McConnell spent the night alone in a room with Joe Biden (which admittedly few of us would have the stomach for). And when they emerged they informed those 300 million Americans what their tax rates now were. That's unseemly. Then, in the small hours of the morning, the legislature rubber-stamped it. That's repulsive. There's a term for societies where power-brokers stitch up the people's business in back rooms and their pseudo-parliaments sign off on it at 3 a.m., and it isn't a "republic of limited government by citizen-representatives."
Originally posted by Krazysh0t
reply to post by spinalremain
Are they really talking about something this absurd? This is like a huge slap in the face to Greece and Spain. There's no way something like this could hold up.
Originally posted by spinalremain
Reply to post by Krazysh0t
I thought it was a joke myself, but yes indeed they are considering this. It's one way that the White House can avoid a debt ceiling debate.