Wednesday, June 01, 2011

Congress ties debt increase to spending cuts

Congress voted to tie increasing the debt limit to spending cuts Tuesday. Good for them. Vote 318 to 97.

97 Congressmen still don't realize we are in a crisis.

Obama's spokes puppet says he agrees to "deficit reduction" as a condition. But that means tax increases. That is, Tax increases that with static projection will reduce the deficit. But people are not static - they change behavior to avoid the taxes. The tax increase slows the economy and never generates the expected revenue.

We have to cut spending. Good for Congress.

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