More Of The Same
Don’t get too excited about the new “budget deal ” announced late last night by Congressman Ryan and Senator Murray, it’s more of the same, with no real cuts in spending, as a matter of fact, it kicks the can down the street again. In essence the budget deal just rearranges the deck chairs on the Titanic [ the ever growing $7 trillion deficit] spending actually increases by about $45 billion from the present budget. It’s a lame attempt to avoid a government shutdown and pretends to be a bi-partisan compromise, I wouldn’t be surprised if this deal begins to fall apart over the next 48 hours, the devil is always in the details and these details are not impressive. As I have said on the show hundreds of times when politicians promise “savings” in the long term , or you hear about cost reductions occurring in the “out years” those are buzz words for kicking the can. The Congress operates on a budget or a continuing resolution, almost on a quarterly basis, dodging the real issues all the time…never believe them when they say “the savings will be over a ten year period” baloney, there aren’t any real savings just more spending. The budget restores spending that was cut thru the sequester, it increases airline passenger fees, reduces funding to the federal pension, and promotes fake savings by not refilling strategic petroleum reserves. The Democrats will be upset because they want to extend unemployment benefits and conservative Republicans will be upset because it doesn’t do much to reduce the deficit, whether that is enough opposition to sink the deal we will know soon. Unfortunately, it’s all more of the same.