One More on the Debt Deal

http://www.futureofcapitalism.com/2011/08/one-more-on-the-debt-deal

Another example of an article that it would have been nice to read before the vote on the debt deal: Binyamin Appelbaum, in a front-page news article in the New York Times:

There is something you should know about the deal to cut federal spending that President Obama signed into law on Tuesday: It does not actually reduce federal spending.

By the end of the 10-year deal, the federal debt would be much larger than it is today.

Indeed, both the government and its debts will continue to grow faster than the American economy...

I've been referring to Speaker Boehner's pledge that "We will ensure that bills are debated and discussed in the public square by publishing the text online for at least three days before coming up for a vote in the House of Representatives." But it's worth remembering, too, that in their pre-election book "Young Guns," three Republican House leaders, Eric Cantor, Paul Ryan, and Kevin McCarthy, proposed that the text of spending bills "be posted on the Internet at least a week before the vote." In this case the bill was posted less than 24 hours before the House vote.

by Editor  |  Aug 3, 2011 at 7:37 am Related Topics:  Government Spending receive the latest by email: subscribe to the free futureofcapitalism.com mailing list