PASSED!

It's true; the spending isn't just out of control, it makes any budgetary discipline potentially unretrievable.

PASSED:

And now, the "Debt Reduction Act" has passed the House. 269 to 161. Likely, the Senate will pass it as well.

The debt ceiling immediately goes higher by roughly a trillion dollars. And it is not, repeat: NOT a "cut." It only reduces debt increases from $10 trillion to $7 trillion. That's a cut??

It is, however, a classic win/win for DC Hack Politicians on both sides of the aisle, and for Mr Obama, because it extends the debt ceiling to 2013, AFTER his campaign for 2012 -- so it won't be a stumbling block for him during re-election. That was what he was really after.

This is an abortion on toast, ladies and gentlemen; and YOU, the American Taxpayer, have just been taken to the woodshed by DC. You have been fleeced once again, because:

There are NO CUTS in this bill.

BZ

P.S.

PASSED!

The Senate passed the bill, 74 to 26, and Mr Obama signed it this morning. With that, everything should be wonderful, should it not? The resulting econo-quake -- as per the Demorats -- has been averted, yes? Uh, no, not quite. . .