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Cracker Squire

THE MUSINGS OF A TRADITIONAL SOUTHERN DEMOCRAT

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Location: Douglas, Coffee Co., The Other Georgia, United States

Sid in his law office where he sits when meeting with clients. Observant eyes will notice the statuette of one of Sid's favorite Democrats.

Tuesday, April 12, 2011

We borrow 40 cents of every dollar we spend. Last month amount of debt increased by more than twice the amount that would be saved under budget deal.

From the New York Times:

The budget agreement, which President Obama said would produce “the largest annual spending cut in our history” came after painful wrangling between Democrats, who sought to preserve as many social programs as possible, and Republicans, who sought to make even larger cuts. A deal to avert a shutdown, reached late Friday night, left most areas of government with at least some trims.

Members of Congress in both parties were kept in the dark on Monday as a few members of the House and Senate Appropriations Committees and their aides worked out the final wording of the bill on which the two chambers expect to vote this week.

House Republicans had promised a new openness and transparency, with plenty of time for lawmakers to inspect legislation before voting on it. Democrats said it was unclear whether those promises would be kept.

In the absence of detailed information about the cuts, many lawmakers refused to say how they would vote.

But Senator Rand Paul, Republican of Kentucky, said he knew enough about the deal to be sure he would oppose it.

“Only in Washington can a budget that spends more than it did the year before, with a larger deficit, be portrayed as cutting,” Mr. Paul said.

The federal government now borrows about 40 cents of every dollar it spends. In the last month, the amount of federal debt held by the public increased by more than twice as much as the amount that would be saved under the budget deal reached by Congress and the White House.

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