Depressing Fact of the Day

From Tim Cavanough

In the eight days preceding the $38.5 billion deficit reduction deal, the national debt of the United Statesincreased $54 billion.

  • Mark

    On the bright side, apparently they are real cuts vs cuts in future spending which we add into this year budget as savings. So our government spending this year is actually declining compared to last year, which is unusual for government.

    But cutting such trivial amounts off a base which was increased 50% over the last three years does seem a bit weak.

  • Its sad to hear and its really a depressing fact. The whole world is in crises these days one way or the other.

  • Mark

    After reading today's articles on the analysis of the cuts. I take back everything I said. If we can not even cut 1% in our government, even though much of this new spending increase is from the last 3 years, we are doomed.

  • David W

    The only bright side to this whole mess is that electing Tea Party Republicans at least affects the second derivative of the deficit. If we can do this much with just the House and an implied threat to the Senate, imagine what we can do if we get the Senate and Presidency as well!

    Mark, it's not that we can't cut it - its' that we can't cut it, today, with the politicians who are currently in there. That's a condition we can change, come 2012.

  • but when I was young stock investors had a saying — “your first loss is your best loss.” This was just another way of saying don’t throw good money after bad.

  • Lori

    Whatever happened to the saying..."What you don't know can't hurt you?" Guess our ignorance isn't bliss after all!

  • Ted Rado

    I am beginning to think I live in a primitive third world country. Even the Zimbabwe government's method of money management will shortly look good by comparison.