Mandating the Future to Kow-Tow to Now
by OffSite (8/1/11)
What is being termed a “historic debt ceiling compromise deal,” complete with backslapping and self-congratulations at the highest levels, is being considered by the Senate and the House rank-and-file. And consider they will. With many provisions going against the principles of both the TEA Party contingent and the far-leftist Progressive faction, there is a lot to consider.
Significantly, lost in this “grand compromise” are these facts: a) Almost all of the spending cuts trumpeted as victory for the TEA Party Movement come after the 2012 General Election and with the election of a new Congress, b) The agreement does not eliminate deficit spending, rather, it simply lowers the amount of deficit spending, and c) Because the agreement doesn’t reach the $4 trillion mark mandated by the ratings agencies there is still a chance for our nations credit rating to be downgraded. Full Piece
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