What Are the $1.2 Trillion in ‘Real’ Spending Cuts?
I’d love to believe the Boehner plan is not a joke, really I would. But I see that, right away, Obama gets a $1 trillion credit extension (our current $14.3 trillion credit line apparently not being enough) while the “real” cuts in spending — which are trumpeted because they purportedly exceed the increase in the debt ceiling — will supposedly take place over the course of a decade. You have to say “purportedly” and “supposedly” because whatever this Congress does cannot bind any future Congress. (Has this Congress seemed to you like they feel bound by anything Congress did on spending in 2001?) The only cuts that really matter are the ones made today. So, leaving aside several other misgivings about the Boehner proposal — i.e., before we ever get to the other $1.5 trillion credit expansion President Obama would get next year, and the blue-ribbon committee half-staffed by Harry Reid that is going to solve all our spending problems — I have just one question: Mr. Speaker, what are the cuts that will be made now in exchange for permitting the president to sink us another $1 trillion into the hole?