From the desk of Johnny Fincioen on Tue, 2011-08-02 10:11 Last Sunday evening the leaders of the Democrats and Republicans in Congress reached an agreement with President Obama to raise the debt ceiling. Almost exactly as I predicted in my previous letter. The deal has two sides. On the one hand: Obama gets permission to make 2,400 billion dollar more debt. This is just enough for him to reach the end of his first term without the need to beg for still more money. During the negotiations it became clear Obama had only one bottom-line: the raise had to be high enough. On the other hand: the Republicans succeeded for the first time to cut the federal expenditures without raising taxes. Obama bowed twice. Really? When Obama first spend 1600 billion to take 100 back later, who wins? Obama or the taxpayer?Political Theater At The Highest Level
Wednesday, 3 August 2011
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