By Douglas V. Gibbs
"But with respect to future debt; would it not be wise and just for that nation to declare in the constitution they are forming that neither the legislature, nor the nation itself can validly contract more debt, than they may pay within their own age, or within the term of 19 years." --Thomas Jefferson, letter to James Madison, 1789
A deal has been reached - and it does nothing but make the politicians happy.
The threat of a down-graded credit rating for the United States does not exist because of the battle over the debt limit. That is like saying that your credit rating is in danger because you haven't maxed out enough credit cards. The nation's credit rating is in danger of being down-graded, and already has been with some agencies, because of the incredible spending we are experiencing at the hands of the Keynesian economics supporting idiots in office.
As a result, both the Boehner and Reid plan, according to Moody's, does nothing for the debt limit.
Now that there is a deal, we are told that there is no tax increases, and that there is an immediate cut.
Let's think about this for a moment. The democrats, who controlled the house the last few years never came up with a budget while they had control of both houses.
Now, today, they came up with something.
"...an immediate cut of $1 trillion over a 10-year period..."
How is it an "immediate cut" is if it's taking place over ten years? Besides, these are not real cuts. They are promises to spend less over the last ten years - promises that will never be kept just as the democrats pulled in the early 80s and mid 90s.
They say we avoided a default, when we did nothing of the sort. The raise in the debt ceiling avoided them from facing real spending cuts, is all it did.
Sure, the GOP says this is a step in the right direction - but is it?
I think we would have been better off not raising the debt ceiling, forcing these bastards to prioritize spending, and cut the idiotic stuff at the bottom, and reforming entitlements.
What they have just done is literally kicked the can down the road.
The Republicans and democrats disappoint me, and have let down America.
It could have been worse, however. The totalitarian wanna-be in office, Barry Obama, would have by-passed Congress if he could.
-- Political Pistachio Conservative News and Commentary
Moody's: Neither debt plan protects the nation's AAA rating - The Hill
Top Sen. Republican: deal very close on default - Associated Press
In sales pitch, Boehner assures GOP: Deal is 'all spending cuts' - The Hill
Obama, Boehner Concede Deal's Faults - Daily Beast
Boehner Holds Call With House Republicans: Declares Victory - Gateway Pundit
Obama Announces Debt-Reduction Deal Approved by Senate, House Leaders - Fox News
Congressional leaders reach agreement to raise the debt ceiling - Yahoo News
TEMPTING ‘TO BYPASS CONGRESS AND CHANGE THE RULES ON MY OWN’ - Breitbart TV
Debt deal: Obama, Hill leaders break through - Politico
Congress pushing McConnell Obama-as-Dictator plan behind the scenes? - Renew America
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