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The US Debt Ceiling Compromise Simple Truth

August 2, 2011, by Ken Jorgustin

the-us-debt-ceiling-compromise-truth

The US Debt Ceiling Compromise:

Adds at least $7 trillion to our debt over the next 10 years. The deal purports to “cut” $2.1 trillion, but the “cut” is from a baseline that adds $10 trillion to the debt (you see how they do this? It’s all smoke and mirrors and BS ‘white lies’).

This deal results in a BEST case scenario of still adding more than $7 trillion more in debt over the next 10 years. That is sickening.

Even if you believe cutting $2.1 trillion out of $10 trillion is a good compromise, surely we can start cutting quickly, say $200 billion-$300 billion per year, right? Wrong.

This plan so badly backloads the alleged savings that the cuts are simply meaningless. Why do we believe that the goal of $2.5 trillion over 10 years (that’s an average of $250 billion per year) will EVER be met if the first two years cuts are $20 billion and $50 billion (this is only several ‘days’ worth of federal spending – each year!).

There is simply no path in this bill even to the meager savings they are alleging will take place.

In summary, after weeks of main-stream-media coverage and hype, pitting one political party against the other, the ‘gang’ has won once again. They’re apparently going to spend at least $7 Trillion more!

According to Michael Savage, ‘you’re being hoodwinked again’. Apparently Rand Paul agrees.

We are not espousing one political leaning or another (we happen to believe they’re all mostly corrupt), but rather pointing out what appears to be information that cuts through the BS.



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