This incredible “life saving” deal would increase our debt limit by up to $2.4 trillion, which would be the largest increase to the debt limit in U.S. history by a margin of half a trillion dollars, according to records published by the Government Accountability Office and the Congressional Research Service.
If you’re wondering about the last record setting debt limit increase, it happened just last year when President Obama had our debt limited raised a mind-blowing $1.9 trillion dollars in February of 2010. Sounds small compared to what they are hitting us with this time.
Weren’t they supposed to have spending cuts equal to the additional debt incurred? That is what the GOP leadership want us to believe. It appears that most of the “cuts” aren’t actual cuts at all. They are just agreeing to increase their spending LESS.
No plan under serious consideration cuts spending in the way you and I think about it. Instead, the “cuts” being discussed are illusory, and are not cuts from current amounts being spent, but cuts in projected spending increases. This is akin to a family “saving” $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda. But this is the type of math Washington uses to mask the incriminating truth about their unrepentant plundering of the American people.
Can Washington ever control their spending addiction and slow the plundering of our people? Will they ever seriously tackle the trillions upon trillions in unfunded liabilities of Medicare and Social Security, or will they continue to put band-aids on our bullet wounds and watch us bleed to death?
Some Democrats call the deal a “sugar coated Satan sandwich” and continue calling for more compromise and “shared sacrifice”. This is Democrat speak for huge taxes increases on top of more debt. The GOP may very well do as they wish and compromise us into being the next Greece.