Zero Hedge has an excellent review on how this debate about the fiscal cliff is just prattle because there are no serious proposals to address "mandatory" spending:
Given that the entire problem is with mandatory spending, slashing the discretionary budget is pointless. It's as if the US economy is a speeding train heading towards a ravine at 200 mph, and the conductors are arguing about whether they should slow down to 150 or 175.Read the whole thing, as they say. We're just fooling ourselves.
1 comment:
That comment is almost right--what the conductors are arguing is whether to speed up to 215MPH or 230MPH.
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