Official Washington’s Cracked Accounting
by Matthew VadumAs I write this it is difficult to hear myself think over the sound of congressional Republicans high-fiving each other over the debt ceiling deal.
They would do well to remember the words of a British parliamentarian uttered during the Revolutionary War. After the British General Lord Cornwallis won a squeaker of a tactical victory in 1781 by losing a quarter of his army, Charles Fox pointedly observed, “Another such victory will ruin us.”
Surely this is the case with the new debt ceiling compromise in Congress. GOP partisans obsessed with political expediency keep parroting the line that the deal which will pave the way for trillions more in spending is somehow a Tea Party “victory.” They have a strange definition of victory.
There is no evidence that this bizarre deal of at least questionable constitutionality (e.g. the “Super Congress”) will actually lead to any real cuts. Nor is there any evidence that it will prevent the U.S. government from losing its long held triple-A credit rating.
There is a promise of spending cuts, but overall federal spending will continue on its upward trajectory because Official Washington operates in the make-believe world of “baseline budgeting.” According to this crackhead accounting, both a cut and an increase may count as cuts.
Confused? You’re supposed to be.







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