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Old 08-01-2011
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So we possibly have some kind of deal where we raise the debt ceiling by up to $2.5 trillion and we cut a matching amount over 10 years.

Whoopty doo.

That won't mean 10 years from now our debt will be back to where it is now at $14.5 trillion. It means we cut up to $2.5 trillion off of the next $8 trillion we're going to add to the debt in 10 years! So this debt cutting deal actually allows $5.5 trillion to be added to the debt in the next 10 years bringing us up to $20 trillion in debt. And they're all patting themselves on their backs for these huge "cuts". We still have a lot of work to do.

And to add $5.5 trillion they're telling us they're going to have to make huge cuts to defense and entitlements.... ???
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