Budget Deal—We Should be Thankful, Right?
The glad handing, back slapping, and congratulatory words are flowing freely in Washington today as officials celebrate their compromise budget deal that avoids a government shut down. The President says it's the biggest spending cut in history. Democrat Harry Reid is hailing the deal as 'historic'. Republican John Boehner received a standing ovation from his fellow GOP members.
As I watch the triumphant celebrate their deal, I am more convinced than ever of the collective ineptitude in Washington.
They're congratulating themselves on spending cuts to the federal budget of $38B. $38B relative to the last budget of $3.5 trillion (that's trillion with a T) is roughly a 1% cut. Congratulations, you knuckleheads proposed, counter-proposed, argued, negotiated, had side meetings, burned the midnight oil, and after all that you only cut 1%!?
Have you ever seen a rookie running back do a dance, pound his chest, and give the crowd the first down signal after he runs for 8 yards in the 4th quarter of a game his team is losing by 4 touchdowns? In these situations, a veteran will usually grab said rookie by the ear holes and say, "Hey, dumbass, take a look at the scoreboard….now stop making a fool of yourself!"
Hey Washington, the scoreboard says we're sitting at about $14 trillion of total debt.