DEBT CEILING RAISED, AMERICA LOSES
Of course the immediate borrowing of $400 billion and another $500 billion in the fall is supposedly offset by $917 billion in spending cuts. But here's the kicker, while the $900 billion borrowed is immediate the ,"cuts," are stretched out over 10 years and of course any Congress that follows the current bureaucrats are not obligated by the Constitution to enact ANY of the spending cuts which are called for in this bill.
So who are the winners and who are the losers? Politics and politicians as usual are the winners and especially those like Obama, Reid and others who spend rather than cut since the borrowing is immediate or in the very near future totaling just over $2trillion dollars which will be added to our debt.
The losers are we the people and our Nation as a whole since the debt addition comes out of our pockets while no real and meaningful cuts are made especially in the short term and future Congress' are under no legal obligation to cut a red cent called for by this Congress which has stretched out about $2 trillion dollars in spending cuts which really only amounts to shifting numbers on the books rather than real and deep cuts to attack the debt.
America loses on a second tier in this round of politics as usual since our credit rating will likely be lowered from AAA since an immediate $4 trillion dollars necessary to keep the AAA rating was not established. As a result of the continued high debt with no real solution to solve it only borrow more, Standard and Poors is sure to lower our rating.
A move that will cause interest rates to rise, prices to rise, the dollar to grow even weaker and US goods worth much less on the world market affecting the pocket book of every American. So once again we the people lose. I noticed that not ONE Congress person nor the idiot in The White House offered one penny of their salary or benefits to help the situation as with expense accounts provided by tax payer dollars the same price hikes we experience due to their stupidity will not have an affect on the Washingtonians.
The press of course to take another slap at the Tea Party movement said it was the big winner. A manufactured lie in order to pressure Tea Party Representatives into voting for this debacle in order to get it to Obama's desk to sign. Had the Tea Party truly won in this debate, cuts would have been deep and immediate with no possibility of increasing the debt or raising taxes.
As it is the bill holds open the door for future tax increases to off set supposed spending cuts which again is another loss for we the people. The Washingtonians are touting this as a great victory for the people and the country. In reality the only thing that has taken place is that another nail has been driven into the coffin of debt and the future of our country and children has been hurt further by bureaucrats who look out for one another and ignore the people they are hired to represent.