Monday, August 1, 2011

Debt Ceiling Deal: What's It Really All About?

Is it true that the debt ceiling deal only cuts $1 trillion over the next 10 years?
Is it true that it permits the expiration of the Bush tax cuts thus triggering an effective tax increase?
Is it true that it seems to permit a vote on a balanced budget amendment while still preventing such a vote?
And is it true that it defers real confrontation of the debt and runaway spending to a significantly later date?
Are any of these things true? Several of them? Any of them?
Let's pay attention carefully over the next 24 to 48 hours.
The answers to these questions are critical and will determine whether or not this so called "deal" really has the faith and confidence of the American people.

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