Debt Ceiling Deal Is Pebble in Ocean of National Debt

Politicians are congratulating themselves on coming to an agreement on a debt ceiling deal. Sadly, the deal accomplishes practically nothing to our national debt nightmare.

False Problem

The debt ceiling fiasco tells you how just how much of a mess Washington, D.C. is these days. We nearly created a financial meltdown by defaulting on a debt ceiling issue that we created and could change at any time we wanted! The only thing more pathetic than this entire debate is the deal they actually came up with in our nation’s capital.

Bizarre Deal

The debt ceiling deal is a masterpiece of politics. It calls for no tax increases per se, but much in the way of spending cuts that are not actually detailed. On top of this, the unspecified cuts aren’t going to happen until later in the decade. Put another way, this deal cuts no spending in the short term and raises no new revenue. This means the big debate that just happened CHANGED NOTHING! If you aren’t rolling your eyes now, you should be.

National Debt Impact

So, what is the impact of this fiasco on the national debt? It has none. The only thing that this accomplished is showing us all why we don’t like Washington, D.C. The special interest and pure lying is confidence shaking. This big debt deal addresses not one of the hard issues we face on the debt. There are no substantive cuts to Medicare or Medicaid. There are no substantive cuts to Social Security. There are no substantive cuts to the military budget. Until we deal with these three issues, there will be no change in our annual deficit or national debt picture. The debt ceiling issue was supposed to be a chance to start dealing with these issues. Instead, politicians on both sides failed to deal with the real problems.

Looking Forward

What does this portend when we look forward? Nothing good. Our annoyance in dealing with this false emergency may be over, but there is no indication that the politicians and political parties have the courage to will power to deal with the national debt. This pathetic group did what politicians always seem to do. They pretty much kicked the problem down the road 10 years.

Wow, that’s a great solution.

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