Chris Edwards of the CATO Institute explains how pirates are about to defraud you:
I’m getting very suspicious that party leaders will deliver phony “cuts,” not actual terminations in programs or reductions in entitlements. Looking at Congressional Budget Office projections, it is fairly easy to come up with $2 trillion in “savings” without actually cutting anything.
Chris goes on to explain some simple accounting gimmicks that will allow the professional pirates to proclaim they have offered 2 trillion in spending cuts without actually cutting a single penny of spending.
Chris is over-generous in assuming that the pirates might use these gimmicks as part of their budgetary accounting. I think it is safe to say the pirates will use these accounting gimmicks. – Why would professional pirates do anything less?
Of course, it doesn’t even matter if they really cut 2 trillion in future spending over the course of a decade or not since our nation is going down the crapper within the next few years. Consider that just the federal budget deficit this year alone is 1.5 trillion dollars.
That is to say, this year, the criminal Congress managed to spend 1.5 trillion more than they collected in stolen loot. This deficit shortfall is then added to the total debt, which is currently at 14.3 trillion dollars; which is nearly 100% of the nation’s gross domestic product.
The Fed is engaged in mass money printing to the tune of hundreds of billions of dollars a year. It is ridiculous to expect foreign nations to continue holding our bonds as we destroy the future value of the dollar. Eventually they will tell us to blow off and dump our crappy worthless treasury debt, thereby killing the dollar in the process.
Of course, this is something I look forward to with great joy and anticipation. For when the dollar dies, so too does the terrorist State.
Perhaps I should start supporting Obama. He will destroy the State far faster than Ron Paul ever could.