What Everybody Ought to Know About the Debt Deal

There’s hysteria on both sides.  From Satan Sandwiches to “killing future generations,” you’d think Congress is voting on a bill to launch the US nuclear arsenal on Philadelphia, Detroit, Atlanta, and Los Angeles. There are reasons to distrust the deal.  I distrust it.

There are great reasons to distrust the Congressional committee charged with finding more cuts.

The bill does far too little, too slowly, to prevent a credit rating cut in the near future.

And I don’t think the world would end without raising the debt ceiling.

That said, the reality is something was going to give. Most members of Congress are Establishment—and the Establishment hates risk, even smart, principled risk.  Sorry—just reality.

So let’s keep pushing for more cuts, for entitlement reform, for a government that obeys the law and operates within the limits of our Constitution.

The Tea Party movement rattled both Establishment Republicans and President Obama.  We have a voice. But if we scream ourselves hoarse, that voice will weaken—and the many, many Unknowing Believers will close their minds to us.

5 Things to Question About Debt Deal

Yes, the Tea Party movement influenced what went on in Washington.  No, the Tea Party is not the winner.  (No one won.)

No, this debt deal won’t guide the government off the road toward bankruptcy.  Here’s why.

1.  No Entitlement Fix:  In fact, it appears that entitlements aren’t touched.  Entitlements are the nation’s spending problem.  Not roads and bridges, not the military.  Entitlements. Until we arrest and reverse growth in Social Security, Medicare, and Medicaid, we’re spitting in the ocean.

2.  Military Spending Won’t Be Cut:  Remember the “peace dividend” after the Berlin Wall fell?  Then Saddam invaded Iraq.  Obama and the Dems know damn well that Republicans will forgive them for ignoring planned military cuts as soon as some threat appears on the horizon.  And there’s always a threat.  These cuts, if implemented, will be quickly reversed.

3.  Cuts Are Someone Else’s Problem:  The cuts don’t start until we have a new Congress and a new President. That’s asking a future generation to fix yesterday’s problems.  That’s cowardice and irresponsibility.  And it’s perfectly Establishment. 

4.  Won’t Save Credit Rating (Unless Moody’s Was Lying):  Moody’s reported on Friday that none of the proposed bills would solve the nation’s long-term debt problem.  If we’re going to lose AAA, why not use that trauma as the impetus for real financial reform?  Instead, we’re kicking the can down the road to save the President and Establishment Republicans.

5.  Favors the Establishment:  Most importantly, this bill demonstrates the problem with Establishment politicians: they’re first duty (they believe) is to their next election.  Boehner abandoned his party’s principled members and crafted a deal to win over some Democrats.  That might protect him and Obama.  The taxpayer—especially Millennials and younger—get screwed.

Question the Establishment, kids.  It is not your friend.