Is it a deal or is it a sugar coated satan sandwich? The key to knowing if it is a real deal or just political games is the following- Does the debt ceiling expansion combine with read and immediate cuts in government spending? If the cuts are based on decreasing automatic baseline budget increases, it isn't a real deal. If the deal postulates spending cuts to be determined by future Congresses, it isn't a real deal. If it only increases the debt ceiling, and does not offset that increase by legal means linking incresed budget outlays directly to either revenues or tax increases, it isn't a real deal.
We shall see.
Monday, August 1, 2011
The Deal
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