[lbo-talk] The deal...

[Jeffrey Fisher]

On Sun, Jul 31, 2011 at 9:00 PM, Doug Henwood <dhenwood at panix.com> wrote:


> > I was just going to ask that myself… but the $900 billion cuts over 10
> years: is there a simultaneous budget being passed (along with raising the
> debt ceiling) that will bind the share of this cut for 2011? What are these
> cuts relative to? The 2010 budget? If so, won’t some savings come naturally
> anyway, when TARP, QE or what have you are put to rest?
>
> Bet it's back-loaded. That's the way this shit always works.

"Taken together, then, the deal is an almost perfect blend of policy punt
and political ploy."

http://www.washingtonpost.com/opinions/the-debt-deal-disaster-averted-decline-straight-ahead/2011/07/31/gIQAWPaCmI_story.html?hpid=z2

I'm not wringing my hands like the author (and Lindsey Graham) are about
"decline," but it really kind of does look like a whole lot of nothing.

j