A debt deal has been reached. Just one measly trillion
2.4 trillion in cuts over a decade, but no new taxes. I guess you gotta start somewhere.
How did we get here? You can blame the whole mess on cynical Democrats like Harry Reid, who could have raised the debt ceiling while in control of Congress last year. But they simply didn’t want to, preferring to play politics with the nation’s finances instead.
Sounds like Harry Reid and the rest of the Dems on the Hill made a bet last year and lost it tonight. Maybe it’s good that they did, since they inadvertently forced to the forefront of the national debate a discussion that was long overdue. And measly cuts or not, Democrats and other advocates of the welfare state have ended up on the losing side of the issue. But just remember one thing: the Democrats knew what they were doing all along. They knew what they were getting into, but also what they were getting the country into. They chose to gamble with our collective future, just for a chance at scoring some political points…
UPDATE: TOM links. Thanks!
MORE: The amount of one trillion in cuts I wrote originally was correct. 2.4 trillion is the amount of money by which the debt ceiling was raised.