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Story Archives: A fraud if there ever was one
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A fraud if there ever was one
 ]Some independent observers of the political process in Washington say the Budget Act of 2011 represents a positive step in the right direction because it marks the beginning of an era of austerity on Capitol Hill.
Others – particularly Tea Party conservatives – say the budget act doesn't go far enough.
Make no mistake, the Budget Act of 2011, which the Congress hashed out over the weekend and President Obama signed into law Tuesday, is a fraud from head to toe.
Let us remember that we arrived at this unfortunate fork in the road of having to digest a half-hearted stab at controlling government spending because the government – namely the Congress – has spent too much money for decades. Deficits have accumulated, creating a situation in which Uncle Sam was no longer in a position to borrow more money to pay the government's bills unless the Congress signed off on raising the nation's debt limit by Aug. 2.
The government's accumulated deficit totals more than $14 trillion. The Budget Act allows the U.S. Treasury to accrue another $2 trillion in debt over the next 10 years – supposedly.For the full story, subscribe to the The Concordia Sentinel's NEW E-Edition! |
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