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Debt Limit

Posted by: Mark Nichols

01 Aug 2011

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Apparently there's an agreement in place to raise the debt ceiling and cut spending - each by $2 trillion. The problem is the cut spending is only from future increases, so it's not a real cut but rather a decrease in the increase.

By putting it so far in the future, it's also like saying, "We're going to cut emissions 20% by 2021-22." Congratulations, but "we're" means "someone else, hopefully," so you're essentially saying, "Not my problem!"

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