From another article:
“$2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.”
http://nationaljournal.com/budget/outlines-of-debt-compromise-emerge-20110730
Cuts OVER 10 years! Raise debt ceiling now, we’ll cut “tomorrow”, tomorrow that never comes.
As Limbaugh predicted, Republicans have been suckered, again.
Let this article sink in
If true then - well then I don’t know what happens. We sink
Scary
Large as “cuts” of $2.9 trillion might appear, in fact they’re minuscule compared to Washington’s embedded (“baseline”) plan to spend $45.8 trillion over the coming decade (2011-2021), as recently forecasted by the independent Congressional Budget Office (CBO). In the past decade (2001-2010) Washington spent $28.3 trillion, so “baseline” outlays in 2011-2012 would entail a decadal increase of 62%. That’s not the biggest spending boom in U.S. history, but neither would it be anything close to “austerity,” as many critics claim.
Even the most “radical” GOP plan, to “cut” $9 trillion, would boost federal outlays by 30% in the coming decade versus outlays in the past decade, while the most modest GOP plan, to cut a mere $2 trillion, would boost outlays by 55%. Yet Democrats lambaste GOP plans as “Draconian,” prone to trigger a “depression.”
http://blogs.forbes.com/richardsalsman/2011/07/29/washingtons-budget-cuts-would-boost-spending-50/
If our credit rating drops none of these numbers add up anyway.
Does anyone know who will choose the dems and RINOS to be on the committee?
Where do you people get this stuff? They haven't been suckered. They're getting exactly what their leadership said they wanted from day one. Two TRILLION plus in additional borrowed money to spend.