"'The ink hasn't even been printed on the paper yet, let alone signed into law,' complained White House Press Secretary Jay Carney hours before the House approved a last-minute deal to raise the debt ceiling and rein in federal deficits, 'and we're already talking about how it's not substantial enough.'"
"Indeed, budget experts contacted by Fox News universally hailed the $2.5 trillion deal as a step in the right direction, and a noteworthy shift for a capital long accustomed to spending without restraint. But they also agreed the measure falls far short of the drastic action needed to address America's massive and long-term structural debt problem."
"A drop in the bucket, or even spit in the ocean," chuckled Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget.
"In an interview with Fox News conducted after she spent Monday afternoon traversing Capitol Hill to brief senators on the terms of the deal, MacGuineas called the proposed savings -- to be enacted in at least two rounds of action between now and early next year -- 'nothing to sneeze at.'"
"'But this is nowhere close to the amount of savings we need to really get on top of this deficit and debt challenge,' she said. 'We're on course to borrow about $10 or 11 trillion over the next 10 years. ... .And $2.5 trillion in savings over 10 years is not going to fix the problem. It's not even going to set us on the right course quite yet.'"
"There was also skepticism that the deal, which culminated months of partisan bickering and anxious backroom negotiations, did not even contain real cuts to deficit spending."
The rest of the article is here.
Reality check from a good friend...everyone keeps saying "Cut" when they should be using the phrase "grow a bit less than normal."
The plan adds at least $7 trillion to our debt over the next 10 years and it NEVER BALANCES.
Spit in the Ocean.
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