Tuesday, October 27, 2015

Bad numbers

Powerline doesn't find good news from the latest budget deal.
This “spend now, promise to cut later” is the same tired trick that helped create our debt crisis. Current spending is real by definition; cuts a decade always turn out to be fictitious. No president and no Congress will ever feel bound by what their predecessors agreed to ten years earlier.
The deal makes some relatively small adjustments in the area of entitlements. It raids money from the social security retirement trust fund to shore up the disability benefits program, which is running out of money. In exchange, there is a bit of positive reform of the disability program aimed at reducing fraud and such.
Clearly, this deal represents a victory for President Obama and congressional Democrats. The administration is already expressing glee.

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