And Now The Truth: “Spending Reductions = LIES”


As they say, “and now for the rest of the story“:

On the discretionary spending front, both sides had “identical offers,” said one of the officials. There would be $1.2 trillion in cuts over the course of ten years; $1 trillion in savings that would come from the draw-down of the wars in Afghanistan and Iraq; and $250 billion in savings in Medicare over the course of 10 years. Both sides had also agreed to attach a second piece of legislation, to be decided via the reconciliation budget process, that would have changed the retirement age for Medicare and changed the premium structure for Medicare Part B and D, while eliminating certain kinds of supplemental insurance. That bill would also contain changes to the way Social Security benefits were paid starting in 2015, with buffers put in to protect the lowest-income beneficiaries.

In other words:

  • NO domestic spending cuts whatsoever.

  • NO material changes to entitlement spending ($25 billion/year on Medicare is pointless.)

  • NO other mandatory spending cuts. Anywhere.

Remember, the deal was supposed to be about $2 trillion in total – $1.2 as outlined above, and then $800 billion in “revenue increases” (tax hikes.)  The deal “blew up” when Obama wanted another $400 billion in taxes.

We’re talking about chickenshit here folks – these “cuts” are not real, they are all “reductions in planned spending increases.

Boehner and McConnell are both a lying sack of crap – there are NO actual spending cuts on the table by either party.  The entire Rethuglican party is a bunch of damned sell-outs.

It is time for primary challenges for each and every one of the alleged “limited government” liars and frauds.  Every one of them – fire them all.

Tea Party and “limited government” my ass.

Get ready to have the US’ “AAA” credit downgraded, ’cause it’s coming.

The Market-Ticker

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