Archive for August 1st, 2011

more debt

President Obama on the debt ceiling discussion:

This process has been messy. It’s taken far too long.

In other words, the “solution” to America’s debt problem is $2.4 trillion of new debt? And all the President worried about has been when the country pursues this ridiculous path?

Well, since most newspaper articles are a bit sloppy with their wording, let us briefly clarify two points.

First, as was mentioned before, the whole discussion has not been about cutting spending. It was about cutting increases in spending. And second, the “compromise” that has been reached does nothing to solve the problem. It simply postpones the problem.

But unfortunately, problems have the nasty characteristic of growing bigger while being unsolved.

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