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
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