Tuesday, August 02, 2011

The US Debt Ceiling Deal

http://globalresearch.ca/index.php?context=va&aid=25848

2 comments:

Julie said...

I find it interesting that I have been searching for details on this plan and have been unable to find any. Even the white house's website gives only a vague idea of what it is. Are there changes in how the the CPI is calculated as I have heard rumors of while at the same time they are reassuring the public there will be no cuts to Social Security? Not to mention the fact that it's only a reduction in spending. Listening to articles in the main stream media it sounds like we are actually being fiscally responsible.

Timothy said...

http://www.latimes.com/news/politics/la-pn-debt-winners-20110801,0,1468308.story?track=rss


http://www.latimes.com/news/politics/la-pn-debt-highlights-20110801,0,4787706.story


shows some details of the plan via the dipartisan committee. The plan is subject to changes in the agreed bill. Fiscal responsibility has been exploited by some as an excuse to go after the social safety net that Americans built up via sweat, blood, and tears. This compromise is unique in having strengths and weaknesses. It does cut some of Medicare and claims to perserve Social Security. The COuncil of 12 is going to make more recommendations of various other cuts in the future. I don't know if changes in how the CPI is calculated will come about.

Thanks for your words.

By Timothy