How many of you heard that as a kid growing up? Well, if it was true, we’d have one awfully singed president.
After the Senate voted today to pass the final debt plan which was passed by the House last night, President Obama stated that it was an:
“…important first step to ensuring that as a nation we live within our means.”
Live within our means?
As other articles on our site will point out in the next day or two, this bill really didn’t cut much of anything. What it really amounts to is that by the end of next year, instead of being $14.3T in debt, the US will only be about $15.3T in debt and by end of the ten year projected period our debt may rise to $21.4T. Oh, I forgot, the $2T in cuts they are talking about is taken off of a projected 10 year debt of $23.3T.
Sorry, Mr. President, but I don’t see this as living within our means. If you were related to Pinocchio, I don’t think there is a limo, bus or airplane long enough to fit the nose you would have by now.