if we cut a dollar of spending for every dollar we raise the debt limit, we will balance the budget in 10 years
Now I’m really confused. I cut my monthly spending by a dollar each month. But I raise the amount I CAN spend every month. And that’s a balance?
Sure, because you're not working - you're borrowing the money you spend, and you can borrow as much as you want, because someone else services your loan - forever.
So your only problem is to get the suckers who service your loan to continue to do so as you borrow more and more money.