Jul 31

As expected…

The President and Congress has reached a reported deal to raise the debt limit, with some spending reductions over the next decade.

Of course, they promise the cuts, and establishes yet another commission to produce a report (which they have to approve their recommended cuts) before a long-term debt limit increase will go into effect.

This of course, just kicks the proverbial can further down the road, leaving every taxpayer with more than $130 thousand to repay for their foolishness.

Eventually, that can is going to hit a wall, and I feel sorry for the people who will have to pay when the lenders call in the notes.

More: [Fox News] Obama Announces Debt-Reduction Deal Approved by Senate, House Leaders

Permanent link to this article: http://onthespotblog.com/as-expected/

Bad Behavior has blocked 248 access attempts in the last 7 days.

Close