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I asked a friend who works up in Washington for a Congressman, What’s going to happen on the debt ceiling?
 
They’re all, he said, all the leaders, dying to raise it. The Republican leaders will agree to raise the ceiling $2 trillion in exchange for $2 trillion in spending cuts over ten years.
 
So, hypothetically, I said, they could cut $200 billion – 5% of the budget – right now, then multiply it by 10 and say they’ve cut $2 trillion – but all government spending drops is 5%?
 
Heck no, he said, They’ll defer the cuts to the end of the ten years and they’ll probably never happen.
 

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One comment on “Washington Politics

  1. Carbine says:

    I’d be shocked if the Republicans in Congress agreed to raise the debt ceiling anywhere near $2 trillion. The deal can’t possibly be for that much, nor can it be for ten years. In the end they’ll agree to raise it, but by a much, much smaller amount and for a very short period of time. Even so there may be a lot of cost shifting towards the far end of it, but it won’t be anything like what you’re suggesting Carter.

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