Debate: US debt ceiling deal

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Revision as of 15:34, 3 August 2011

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The debt deal does not cut spending enough. Jerry Moran, Sen R-KS. "Debt deal not good for America." KSALLink.com. August 2nd, 2011: "This plan may be considered a good deal in Washington, D.C., but it is not a good deal for the future of America. There are virtually no spending cuts in this bill – in fact, it only slows slightly the growth of spending. The amount of spending that is reduced is about $21 billion next year. Given the fact that we borrow $4 billion more each day than what we take in – those savings will disappear in less than a week. It’s unfortunate the country has been through this long drama about raising the debt ceiling and it’s even sadder that the accomplishments are so few.”

The debt deal ignores/distracts-from unemployment Rick Newman. "3 Ways the Debt Deal Fails America." News and World Report. August 2nd, 2011: "It shows total disregard for the jobs problem. Surveys repeatedly show that Americans' No. 1 concern isn't the national debt. It's unemployment. And they're right about that. The lack of hiring is the biggest single problem in the economy right now. There are still 14 million Americans out of work, and perhaps an equal number who have stopped looking for work. The unemployment rate is stuck more than four percentage points higher than it was before the recession. The weak job market is the biggest reason the housing bust persists, spending is weak and the whole economy has been going sideways this year. Washington has now spent the entire summer obsessed with a deal that does absolutely nothing to address the jobs problem. Politicians will return from the traditional August recess with no jobs agenda."

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