Wednesday, July 27, 2011

0.025% cut. WOW!

As Mark Steyn notes at National Review

If the CBO's scoring is correct – that it reduces the 2012 deficit by just $1 billion – then the "cut" represents what the United States borrows every five hours and 20 minutes. In other words, in the time it takes to photocopy and distribute Boehner's "plan", the savings have all been borrowed back.

As for the rest, I'm philosophically opposed to "entitlements" because they strike at one of the most basic principles of representative government – that a parliament cannot bind its successor. But the same objection applies to jelly-spined legislators announcing grand plans for bazillions of savings years after their term of office has expired. Who knows what'll be happening in 2017? Maybe North Korea will accidentally nuke the South Sandwich Islands and we'll be expected to chip in for reconstruction.

Totally amazing, Obama, Reid and the Democrats aren't even willing to cut anything. $1 Billion in a $4 Trillion dollar budget represents only 

0.025% cut.  WOW! 


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