So today, the real budget talks will start in earnest. Let me make my point perfectly clear. No matter what budget they come up with, it simply won't matter. You are viewing the end game. Any chance to slash and burn government expenses and pay down that ungawdly principal is evaporating. The economy is screwed. That GDP number Friday proved it. We cannot create enough wealth to pay the debt. Hell we can't create enough money in ONE YEAR without the government over spending 1.6 trillion.
They will over spend 1.6 trillion this year. Think how ridiculous that is. Could you do that?
It's over. The real hard stuff is coming. That's when these pricks start defaulting on your social security. You know the money they stole from you for 40 or 50 years. They don't want to give that back. And pricks like Alan Simpson are going to call you names while they get their government retirement checks and cash them. http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9009394
So here is the finished piece of work in rough draft form.
- $2.8 trillion in deficit reduction with $1 trillion locked in through discretionary spending caps over 10 years and the remainder determined by a so-called super committee.
- The Super Committee must report precise deficit-reduction proposals by Thanksgiving.
- The Super Committee would have to propose $1.8 trillion spending cuts to achieve that amount of deficit reduction over 10 years. If that doesn't happen, across-the-board spending cuts would go into effect and could touch Medicare and defense spending.
- If the Super Committee fails, Congress must send a balanced-budget amendment to the states for ratification (at least according to Major Garrett, the ABC report is that there has to be a Balanced budget vote either way)
- The Super Committee is allowed to discuss spending cuts only...No net new tax revenue would be part of the special committee's deliberations.
They will all exclaim how hard they worked and they will try to emphasize the strong points. But make no mistake about it. They are parasites. They cannot stop. Eventually parasites kill the host. But right up until they kill you- they like to tell you what fine creatures they are. That's a pretty good analogy for this.