Skip to comments.Debt Jumped $54.1 Billion in 8 Days Preceding (Budget) Deal to Cut $38.5 Billion for Rest of Year
Posted on 04/09/2011 3:52:23 PM PDT by Qbert
(CNSNews.com) - The federal debt increased $54.1 billion in the eight days preceding the deal made by President Barack Obama, Senate Majority Leader Harry Reid (D.-Nev.) and House Speaker John Boehner (R.-Ohio) to cut $38.5 billion in federal spending for the remainder of fiscal year 2011, which runs through September.
The debt was $14.2101 trillion on March 30, according to the Bureau of the Public Debt, and $14.2642 on April 7.
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(Full title: "Debt Jumped $54.1 Billion in 8 Days Preceding Obama-Boehner Deal to Cut $38.5 Billion for Rest of Year")
so boehner cut 5 days of borrowing out of a year and declare victory
Even worse. The cuts are from Obamas budget that never passed last year. In other words cut 38 bil from a Phantom. Boner is the Phantom of the Congress.
So in other words the spending cuts they are all proclaiming were so big were only enough to cover 5.7 of the last 8 days worth of the increase in the National debt.
To put that in perspective think of a credit card company that charges $54.10 for the use of a credit card for 8 days. They then come back and say they are going to save you some money and reduce the fee for the remainder of the year by $38.50, so you will only have to pay $15.60 for the rest of the year. Any way you look at it you are still out $69.70 that you didn’t owe before. With a credit card company, however, you can just refuse to have the card in the first place and save the entire $69.70.
Congress on the other had is telling us that we have to pay 69.7 Billion dollars whether we like it or not! These so called cuts in spending are laughable at best!
Ohh mercy ....
Amazing that anyone can fall for this Baloney.
Run out and buy more shovels, we will get to the bottom of this thing yet.
You just cannot get that through some of the empty heads here. The republicans are making cuts from a non funded budget. That means spending will stay at the levels approved last years. No one in government has lost one dime.
Here’s to learning something about strategy, because this strategy is very close to failure.
The power of the Boob Tube is amazing. Now I know where the Boob Tube got its name.
I don’t like this deal. The only thing I want from a government shut down is for it to never re-start.
Whether this is victory or defeat will be determined by events yet to occur. If this is the start of a long and sustained trend toward fiscal sanity - that is; If this “deal” marks the “moment” that the “sea of debt began to recede” and the “heated spending began to cool” - it will indeed be a victory.
If, however, this is just a token measure meant to appease an ever growing tea party demand to slay this goverment Leviathan- it may be a fatal defeat for the GOP.
Is this actually a done deal? Or does the House and Senate still have to vote on this?
Just keep sending millions of those lottery style government retirement checks and tell all the private sector peons this is there big victory!
They'll buy it!
The Kommunist Amateur Hour.
I don’t believe I said anything of the sort.
And I think you mean “their”
Hopefully I won’t get cited for spelling/grammar errors. I occasionally use voice recognition software and it’s not one hundred percent.
Rearranging deck chairs. If the USA was Argentina then the bankers would have already foreclosed.
We pay China and others $400 B/yr in interest on national debt and run a trade deficit. They own us.