Debt Deal Reached! (Because We’ll Believe Anything)
Reality is easy. It's deception that's the hard work. - Lauryn Hill
The media reminds me of those tourists you see on New York City streets trying to beat the hustler at 3 Card Monte. They’re just as gullible and deceived just as frequently.
No one has seen this “deal” in writing but when you see it and try to follow the ace you won’t find it. The “ace” is stopping America from falling further into debt. There will be no control of future debt creation in this deal. That fact will be lost in the shuffle.
The “deal” starts out with a Wimpy Hamburger Contract: “I’ll gladly pay you Tuesday for a hamburger today.” The Democrats get $1 trillion more debt today for $900 billion in total spending cuts to be achieved 10 years from now.
You can only cut a current program (unless you call failing to fund a proposal a cut, as Paul Ryan complained of with his "cover the moon in yogurt" analogy). So what is to stop them over the next ten years from creating other programs or renaming programs and funding them anew? Boehner says there will be spending caps. He’s misdirecting. I’m predicting any spending cap portion of this bill will be either narrowly tailored to be ineffective or replete with rule swallowing exceptions. Is anyone other than media really gullible enough to think establishment Democrats and Republicans have gone on a pork diet for the next decade?
So the tourist media lost their dollar in the first game of 3 Card Monte against Congress. They pony up another buck for round two:
A committee will be created (Washington DC has 600,000 people and 700,000 committees). That committee will recommend $1.5 trillion in spending cuts and if they are successful, $1.5 trillion will be added to the debt ceiling.
Wait – what? If the committee will cut $1.5 trillion in spending, shouldn’t we be in a position to lower our debt? The only reason to need $1.5 trillion worth of room for more debt after they cut $1.5 trillion dollars in spending is if they are going to spend an additional $3 trillion elsewhere.
Three… Card…Monte.
The goal here is supposed to be less debt for America, not spending cuts outstripped by more spending. Nothing has changed, nor will it unless the Tea Party kicks out the rest of them in both parties.
By the way – the President insisted that the deal must push off to after his election the time when we will have to revisit this. While the media has reported that fact, absent is a constant scream of opinion that he is engaged in political selfishness and “playing politics.” They are too busy calling Tea Party insistence of less debt “playing politics.”
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Comments :
Jun '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
We just have to get used to the idea that the private sector exists primarily to create wealth the federal government needs to service their debt. That's what Jefferson and Madison had in mind. No?
Dec '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
As usual, the tribal media reports the opposite of what has occurred.
On substance, it stinks. The bill consists of more debt, immediate more spending (1), and higher taxes on the middle class enacted under the majestic cover of a praesidium.
On politics, the lollapalooza is fading. The Congressional Black Caucus has just compared our historic first Islamic apostate president to a sandwich serving busboy and more of the public has been made aware of base-line budgeting, budgets according to law / policy, and other Clintonian contortions of the meaning of words by Washington’s budgetary prestidigitations.
In other words, a rising climate change in public perceptions; more debt and taxes for those of us who pay them.
(1) See page 71. It adds $10 billion to “higher education” spending with the words “striking and inserting:
SEC. 501. FEDERAL PELL GRANTS. Section 401(b)(7)(A)(iv) of the Higher Education Act of 1965 (20 U.S.C. 1070a(b)(7)(A)(iv)) is amended—(1) in subclause (II), by striking ‘‘$3,183,000,000’’ and inserting ‘‘$13,183,000,000’’;
Tea party movement: Faster please.
Aug '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
We'll just have to pass it so we can see what's in it, right? The shell game continues. How about that 'commission' that's going to decide - in the future, of course - where the cuts will be made, and how much they will be cut. Gosh, do you think it will be a blue ribbon commission? Remember when people used to say that with a straight face?
Dec '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
Tommy De Seno: Reality is easy. It's deception that's the hard work. - Lauryn Hill
No one has seen this “deal” in writing ...
This is so aggravating. I keep hearing the media report on this deal or that which was rejected and how the Republicans turned down the Presidents offer of Medicare and Social Security but we haven't seen a single thing in writing. I have no real idea whats in this bill or what was in the other so-called "deals".
Mar '11
Re: Debt Deal Reached! (Because We’ll Believe Anything)
Basically the deal comes down to this: Obama gets what he most desperately wanted--to raise the debt ceiling and push the debate beyond the 2012 election--and Republicans get what they most desperately wanted--a debt ceiling raise that brought the issue front and center and conducted said raise without a tax increase and with some spending reductions.
It's no triumphant victory that we can hang our hats on and go home, especially because of all the nefarious mischief the Supreme Wise Commission of Goodness can do in November. But its also not some disastrous defeat that will cause the imminent collapse of the West or wreak havoc in the market in the middle of an extremely fragile recovery (after all, as Mitch Daniels and Paul Ryan have said, we do need economic growth to grow our way out of some of this problem).
But the race is on for 2012.
Oct '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
Get used to it. There is a race to the bottom going on, between self destruction and invasive destruction by our enemies. It should be obvious by now that no real enemy of America would waste their resources trying to take us down since we are hell bent for doing it on our own.
If you do not have a strong belief foundation, your life is going to get extremely scary over the next decade or so. Think Dark Ages with internet connectivity.
May '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
it's ok...it's out in the open now...THIS deal should/might get killed. Let's keep the process in front of the public...they will learn a lot.
Mar '11
Re: Debt Deal Reached! (Because We’ll Believe Anything)
The spending reductions are by an large fictitious and I am not even certain your claim about taxes is true. If what I have read is correct the CBO scoring explicitly counts on the expiration of the FICA credit and the tax cuts enacted in the:
Economic Growth and Tax Relief Reconciliation Act of 2001 & the Jobs and Growth Tax Relief Reconciliation Act of 2003
Someone correct me if I'm wrong on this but that will definitely mean a tax increase in 2012.
Edited on Aug 1, 2011 at 11:15amApr '11
Re: Debt Deal Reached! (Because We’ll Believe Anything)
Excellent summary of the this entire debt ceiling charade, Tommy! Any time NPR and WaPo tells me that I and other tea party participants have won, I know we've lost. The whole idea that cuts total over $900B is laughable.
The CBO says that if the US were to do nothing more than literally freeze spending at it's current (high) level, that would score as a $9.5T budget cut! The first think that the Republican administration and Congress needs to do in 2013 is to revise the budgeting process from the current "baseline" system to a zero baseline system (unfortunately there are many "first" things that need to be done!). We need to stop all of this Enron style book-keeping and make it all open and simple.
Kill this deal!
Jul '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
It comes down to this, a GOP validation of "stimulus" level baseline spending, the toxic "stimulus", for as far as the eye can see.
The debt cap raising is covered through in 2012, Obama's re-election. The savings are stretched out through 2021. Instead of the 4:1 savings cap rise ratio we heard from Boehner a while back we have a ratio no better than 1:5.
And Obamacare and the related pre-programmed spending and tax hikes appear untouched.
Putrid. The minute this foul tribute to the duplicity of the parties of Washington is signed, the Reids and Pelosis will be dancing and singing on the graves of the stupid party.
Kill this deal!
Sep '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
This is a victory!!!! Not for the American people, not for the GOP, not for Obama, but for the Tea Party. The Tea Party controls about 1/3 of the majority in the House. Is the agreement worth two cents – no, but anyone who was expecting something of substance was dreaming. The process, that is correctly blamed on the Tea Party, further alienated voters against the Washington establishment and demonstrated the Tea Party would stand up and fight even if it meant taking on their party’s leadership. This fall many GOP moderates will decide it is time to retire. Next spring other moderates will lose primaries and 2012 will see Tea Party people controlling ½ of the majority in the house. The debt ceiling debate made this more likely. That is why this is a victory!!!
Oct '10
Re: Debt Deal Reached! (Because We’ll Believe Anything)
As a friend of mine once said: "That is so lovely! If only it were true."