Obama told Cantor that he would either have to agree to tax increases or give up on his demand that the debt hike be matched dollar-to-dollar to the cuts — that is, $2.5 trillion in deficit-reduction over 10 years in exchange for a $2.5 trillion hike in the debt ceiling.1000% smoke and mirrors. Whatta buncha BS. We all know that "$2,500,000,000,000 in deficit-reduction over 10 years" won't happen. Truth be told we'd be damn lucky to see 20% of that actually happen. And even then a bunch of it would be BS.
We need logical, common sense, real life cuts over the next three years. These cuts need to be down in writing. These cuts need to be something the American public can easily track. These cuts need to have realistic, achievable milestones.
In short, these cuts need to be real and the truth.
IMHO, all these assholes, on both sides need to forget the Skittles and Unicorns and get deadly serious about our country's future.
“Obama told Cantor that he would either have to agree to tax increases or give up on his demand that the debt hike be matched dollar-to-dollar to the cuts — that is, $2.5 trillion in deficit-reduction over 10 years in exchange for a $2.5 trillion hike in the debt ceiling.”
Since we’re running up deficits of $1.5T per year,and, at best project dropping that to $800B per year, we’ll run through a $2.5T increase in the debt ceiling in 2-3 years. So why do we talk about 10 year deficit reductions?