Months and months of negotiations, with Simpson - Bowles as a clear navigation tool and this is the best we can do? A year from now our total federal debt will have climbed to $17.8 TRILLION. That's $47k for every man woman and child in America. Exactly how will we ever pay that back? Our elected officials don't have a clue of what to do.
I just think the President is choosing Economy over much needed spending cuts but only Temporarily in my opinion !
Republicans playing a game of lets pretend we're in charge is only slowing down the recovery process and making it easy for Obama to just wait them out because he knows their stradegy is flawed !
If Congress had tried to help the President starting two years ago we would allready be into the spending cuts right now with what should have been a much improved Economy today !
The longer the Obstruction lasts the more likely even more Democrats will be elected in the future so the Republican stradegy has been to screw themselves over and their just now figuring that out ?
I hope you're right but history doesn't support your optimism. Seems every administration forgets to go back and take care of the deficit after the economy recovers. Obama doesn't want his legacy to be a flat economy for 8 years and the next guy will say "not on my watch". So the story never ends. When the Fed quits driving the interest rates down artifically and market forces take control again I think we're in for a rude surprise. I suspect rates will shoot up past 6% before the end of 2015 and will flirt with double digits by the end of Obama's second term. Nobody will want to buy our worthless paper and inflation will kick in as the Fed fails to get off the accelerator in time. It could get really ugly.
I can't wait to see all the old folks protesting in Washington against cuts to their benefits (entitlements). It'll the 60's all over again. Peace, love, viagra, oxygen tanks, "it's my money". Can't you just see it?