Wednesday, December 11, 2013

What? Wall St Suddenly Doesn't Like Spending MORE?

Isn't "easing spending cuts", as shown in this Bloomberg headline this morning, just another way of saying that they are going to spend MORE? Why the parsing of words? Why the games of semantics, just to tell us that they're kicking the can down the road again?

Key points in this budget "deal":
They restore $65 billion in spending cuts NOW!
They cut spending by $23 billion over ten YEARS!

Meanwhile, the US Treasury issued $409 billion of new debt in October alone -- in ONE MONTH!
Are these people insane? What kind of "grand deal" is that? It sounds like more of the same insane to me!