1 August 2011

Debt ceiling

As far as I can tell from the simple descriptions of the budget deal in media clips, the new plan represents a complete capitulation by Obama and the Democrats. There evidently won't be a single revenue enhancing measure. Tax breaks for the richest Americans--that sacred cow of the Republican party--will continue as is. Exactly how this represents a "sacrifice" or a "compromise" by the far right escapes me. The only bright spot is that the bloated military budget may be cut. I'll believe it when I see it.

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