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Thread: How Would You Interpret This Report?
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Old 04-14-2011, 09:09 PM
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Default How Would You Interpret This Report?
I don't know if you missed it, but the non-partisan Congressional Budget Office (CBO) just "scored" the newly passed "$38.5 billion spending reduction bill" that the members of Congress on both sides of the aisle are almost breaking their arms patting themselves on the back for passing. Everyone is taking credit for this "historical" spending reduction.

Just a couple of facts get in the way unfortunately...
  • The bill was passed with no detail provided to the voting members...or the public for that matter...by the Congressional leadership who negotiated it. Am I recalling that the former majority party was villified for performing in this manner? "Transparency" was supposed to become the norm with a new majority party, wasn't it?
  • Now that the COB has actually gotten the bill that was passed and "scored" it, guess what? They come up with a substantially different number by which spending will be cut. It's not $38.5 billion says the COB...it's only $312 million! After two weeks of late night negotiation the 535 members of Congress that we sent there have agreed to cut government spending by .0000008%! Amazing. Absolutely amazing.
  • In the eight days that the Congress negotited what they claimed to be $38.5 billion in spending cuts, the national debt actusally increased by almost $59 billion. Even using their numbers, which have now been proven to be inaccurate to the tune of almost 99%, we're not even coming close to breaking even in balancing the budget.
If any of you assert that it's the liberal Democrats that are the cause of the financial crisis, or that everything will be OK when we get the conservative Republicans in control, I hope you're all noticing what's happening.

The problem, it appears, is that we don't have anybody from either political party or representing any political idealogy in elected positions in Washington who are even close to being capable to addressing the critical fiscal problem we're facing. Yet they hope that we all agree when they pat themselves on the back and tell us of the wonderful work they're doing in our behalf.