The Democratic spin has already started regarding the lowered AA+ rating, S & P said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bipartisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings in the future".
Spending in Washington is out of control. The Democrats are trying to blame every Republican in or out of office, but at the obvious truth is that out of control.
CBO Baseline budgeting is the problem as every department gets a 4 to 12 percent increase regardless how much they need If they only get a 2% to 6% raise then they say they have cut their budget by 50%. The budget's not being cut; the deficit really isn't being cut. It's only being refinanced with lower interest rates for a short time.
"Here is how the hocus pocus works," explains Mr. Ferrara, who's currently director of Entitlement and Budget Policy for the Heartland Institute. "The CBO assumes a 'baseline' for federal spending over the next 10 years that includes federal spending increases of $9.5 trillion over that time. Any increase in those 10 years of less than $9.5 trillion will be reported by CBO as a cut in federal spending.
A blog by Z_AC_Tech. Proud to be an exceptional American TEAhadist Conservative Infidel. Embrace the Conservative core values of low taxes, smaller government, freedom to practice religion or not if you desire, right to bear arms, a strong military and the right to an alternative education verses the failed public education. The Liberal answer let’s throw more money and regulations at the problem. Big government, big labor and big business is oppressing the common man. Reagan Akbar!
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