The term “Deficit cuts” does not mean spending cuts. If they raise taxes 1 trillion, and then spend an additional 950 billion...the deficit has been “cut”.
Yep, I read it that way too. Harry Reid and Brak 0bama want to increase the tax burden on an economy that is clearly headed into another recession and will produce even less tax revenue.
Up to now I waffled between 0bamunism as an economic philosophy as based on ignorance or malevolence. At this point the destruction of economy is nothing but deliberate malevolence.