Spending Cuts In Debt Deal Are Underwhelming At Best

The latest version of the deal to raise the  debt limit is not the answer to our budget woes.  In fact, according to this video by the Cato Institute, the deal doesn’t cut spending at all:

The Heritage Foundation has put the following statement out about the deal, “The deal relies on an insufficient level of cuts, a “super committee” tasked with brokering a grand bargain that will lead to massive tax hikes, massive defense cuts, or both.  It remains insufficient to the task at hand and the standards which Heritage Action for America has set forth during the course of the debate.”

RedState’s Erick Erickson also recognizes the holes in the Speaker’s argument that it will not allow for tax increases stating, “There will be tax increases. The Deficit Commission will have at least one weak kneed Republican and the commission will only be as strong as its weakest link. The Bush tax cuts will also absolutely expire and not be renewed.”

The bottom line:  Say NO to the $2 Trillion debt deal.

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