Did anyone really think that this Congress was capable of a real solution to the debt and deficit crisis? Certainly Standard & Poors didn’t think so. As the Cato Institute noted in a picture’s-worth-a-couple-trillion-dollars fashion, the long-term effect of this deal on the nation’s debt accumulation trajectory will be negligible. And when ideological non-soulmates Keith Olbermann and Judge Andrew Napolitano both suspect that a key component of the bill, the so-called “Super Committee”, might be unconstitutional, you know we’re in uncharted waters.
Congress shoots... and misses
Maybe now the folks that were never politically involved, but have been suddenly active via the Tea Party, will wake up and realize it boils down to having the right elected officials in place when the votes are being cast and counted. In the long term, that’s not a bad thing.
In the meantime, Congress has to find a couple hundred billion dollars a year to cut from the spending. There’s a surefire way to do that in a single vote, and because it spreads “the pain” around to all factions, it’s a plan that could actually pass: End all corporate welfare.
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