BornLib's Blog

Life, Liberty, and the Firearms that protect them both

Stephen Colbert lied like a dog about debt deal

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From his August 2nd program:

President Obama signed the debt ceiling compromise and America narrowly avoided a catastrophe, giving the Democrats anything they want.

The Democrats made out like bandits.

President Obama wanted the largest debt ceiling increase in history. He got it, to the tune of 2.1 trillion dollars.  “Since 1979, the average debt-limit vote has given the Treasury 251 days — about eight months — of borrowing, according to a USA TODAY analysis of Office of Management and Budget data.”  The President demanded enough to get through the next 18 months, past the 2012 elections, and he got it.

Because the only way this bill was two-sided was that the Dems had to take it in both ends.

The only ones who got screwed were the American public.  The deal “limited” spending to increases of only $7 trillion above current levels over the coming decade, as opposed to the $10 trillion in increases in the Obama budget.

Just look how this defeat has broken Harry Reid…

Harry Reid managed to con the Republicans into letting Senate Democrats dodge their legal responsibility to pass budget resolutions. So not only have Senate Democrats not passed a budget for the past two years, now they don’t have to pass them for the next two years either.

Folks, this is what happens when you only give Republicans 98% of what they want.

Total garbage.  Republicans, and the majority of Americans, wanted the Cut, Cap, and Balance Act.  The Senate Democrats shot it down and the President said he would have vetoed it if it had reached his desk.  The Budget Control Act debt compromise is nothing like Cut, Cap, and Balance.

1. Cut: We don’t even get past 2012 before we see Republicans losing half the cuts they wanted.

2. Cap: The 20% of GDP spending cap Republicans wanted is gone.

3. Balance: CCB required Congress to pass a Balanced Budget Amendment to raise the debt ceiling.  Now they only have to vote on it, and still get all but $300 billion of the debt ceiling increase if they don’t pass it.

Colbert somehow figures that is 98%.  At best, I would say that is 20% of what Republicans wanted.  Since I doubt they really wanted to “deem” the Democrat controlled Senate to have passed budget resolutions when they did not do so, 15% might be an even better number.  Then there are the triggered cuts to national defense discretionary spending by 10%.  Boy, the more you read about the Budget Control Act the more it sounds like the Democrats wrote it, which they did.

Colbert then goes on to blame Moody’s and Standard and Poor’s for our economic woes, rather than the politicians who are spending us all into oblivion, going so far as to accuse them of “economic terrorism” and suggest they be sent to Gitmo.  The fact that US debt is now more than 100% of our nation’s GDP apparently has nothing to do with it.  No, apparently the rating agencies are just doing it because they are a bunch of evil jerks.  This is, of course, the only reason anyone ever does anything liberals don’t like.

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Written by BornLib

August 6, 2011 at 10:01 pm

Posted in Economics, Liberalism

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