6 Things Wrong With the Debt Deal


California Congressman Tom McClintock is a stalwart true conservative who’s one of 66 Republicans in the House of Representatives who did not vote for the Obama-GOP debt “compromise” bill, aka S. 365 “Budget Control Act of 2011” — a complete misnomer because the bill does NOT control the federal budget, even less reduce it.
In an e-mail to his constituents, Rep. McClintock succinctly points out what’s wrong with the bill and why he voted against it:
1. S. 365, pending Senate action, will increase the statutory debt limit by $2.1 to $2.4 trillion, the biggest explosion of debt in American history. It allows the government to avoid spending reductions for the next two years while squandering our last best hope of averting a sovereign debt crisis.

2. The purported cuts, even if realized, are far below the $4 trillion deficit reduction that credit rating agencies have warned is necessary to preserve the Triple-A credit rating of the United States Government.
3. It blows the lid off the House budget passed in April by more than a half-trillion dollars over 10 years.
4. It makes no significant spending reductions for at least the next 2 years, essentially freezing spending at an unsustainable level. While the debt increase occurs this year, deficit reductions are to be spread over many years and could be reversed by future acts of Congress.
5. The spending caps are easily circumvented by declaring appropriations to be an emergency, a response to a “major disaster,” or necessary for the “Global War on Terror.”
6. The balanced budget amendment provisions are illusory because the amendment is completely undefined.
H/t Pat Higgins.
~Eowyn
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Judy
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If Congress and the WH were held accountable for this fiasco, would it still have passed? 🙁