Something everyone should be aware of regarding the ongoing debt ceiling negotiations...
Whatever deal is reached, assuming one is, there will be no spending cuts at all. Doesn't matter whether it's Boehner's plan, or Reid's, or anyone else's. The reason is something called "baseline budgeting". Under this budgeting gimmick, spending increases are built into the system each year. Essentially, spending increases are on auto-pilot. According to the CBO, these automatic increases are estimated to be $9.5 trillion over the next decade.
After some deal is reached, politicians will tell us that they have made significant progress toward getting our fiscal house in order. In reality, all they will have done is reduce the rate of growth of spending. Only in Washington can an increase in spending be called a "cut" with a straight face. The train wreck will only have been postponed.
So, my suggestion is to drink heavily.
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