“The deal,” of course, is the deal on raising the debt ceiling that Democrats have offered Republicans. It includes a purported cut of trillions in exchange for hundreds of millions in “revenue increases.”
As the Cato Institute highlights, these “cuts” aren’t much of anything at all:
Dr. Kevin Grier opines:
Let’s ignore the fact that our economy is still in a big mess with high unemployment and underwater homeowners and just look at the terms of the deal.
The “cuts” are over a 10 year window. People, we have seen this movie before. Presidents are elected for 4 years, House members for 2 years. Current decisions are non-binding on future politicians. The cuts are a joke.
The tax increases, I’ll wager, will NOT be coming over a 10 year window.
In other words, nothing has changed; no one is actually getting serious about fixing the problem. I say: No deal.