CATO Video on Short-Comings of Debt Deal

It is critical that the American people understand the lip-service paid by the debt deal both between Democrats and Republicans and from Washington to the taxpayer.  As this video points out, the deal actually fails to cut spending.  The claim that the deal cuts spending by almost $1 trillion is not a cut at all.  In Washington-speak, a slowing of the rate at which spending grows is in itself considered a spending reduction, and that is precisely what the debt deal says.  Moreover, the cuts are not immediate, occurring over the next ten years under a completely different Congress not beholden to the policies of the present Congress.

The second major point CATO makes is that the additional $1.5 trillion in cuts to be determined by a bipartisan committee later this year acts simply to defer the “tough decisions” that have come to characterize Washington rhetoric in recent years. Washington speaks of the need to come together, to compromise.  Well it seems that Washington has succeeded in compromising itself into fiscal oblivion.

Regardless of party affiliation, please share this video to all you know.  It affects the future of all Americans, Republican or Democrat.

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About Jeremiah Dow
I have a B.S. in Politics, Philosophy, and Economics with a minor in Economics. I finished school in 2010 and am currently working on independent research in various areas including political and economic philosophy, government, and history. I am also currently looking for work in research, particularly the social sciences dealing with public policy work. I aspire to a top-level graduate institution, but would first prefer some professional research experience. Some of my primary influences are Ayn Rand, Noam Chomsky, and Howard Zinn among others.

2 Responses to CATO Video on Short-Comings of Debt Deal

  1. Pingback: S&P Donwgrades U.S. Credit Rating to AA+ Amidst Shambled Debt Deal « kapitalcon

  2. Pingback: Congress and President Ignore Warning from S&P, Pass Meanningless Debt Package Anyway « kapitalcon

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