Wednesday, November 16, 2011

The Super Committee Farce

Here's a little tidbit that most Americans do not know - if Congress does NOTHING at all on the debt, it will automatically grow by another $9 trillion in the next 10 years. That is the level of growth.

Now, the Super Committee is trying (?) to find ways to "cut" $1.2 trillion over the next 10 years. In other words, even if they succeed, the debt will still GROW by another $8 trillion.

Um -- hey Congress, that is not "cutting spending". That's cutting GROWTH of spending.

In order to cut spending by $1.2 trillion over the next 10 years, we actually have to cut $9 trillion - in other words, we have to freeze growth for 10 years so nothing more is added to the debt, PLUS cut $1.2 trillion.

Unless we do that, we are doing nothing.

To put this in lay terms, it's like going on a diet. If you are consistently increasing your caloric intake by a 100,000 calories a year, you will gain about 50 pounds. If you then promise to "cut" your intake by by 10,000 calories, you would STILL be increasing intake by 90,000, and would still pack on another 45 pounds.

If you want to actually LOSE weight, you have to give up the increases altogether, PLUS cut some calories.

Got it?


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