” No epiphanies in Washington: the Congressional Budget Office estimates that the latest triumphant deal includes $2 billion of cuts for fiscal year 2013. Wow! That’s what the government of the United States borrows every 10 hours and 38 minutes. Spending two months negotiating 10 hours of savings is like driving to a supermarket three states away to save a nickel on your grocery bill.
A space alien on Planet Zongo whose cable package includes “Meet The Press” could watch 10 minutes of these pseudo-cliffhangers and figure out how they always end, every time: Spending goes up, and the revenue gap widens.
This latest painstakingly negotiated bipartisan deal to restore fiscal responsibility actually includes a third of a trillion dollars in new spending. A third of a trillion! $330,000,000,000! Fancy that! In most countries, a third of…
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