We are currently witnessing the fallout from the so-called “Budget Deal” that was arranged by the Washington D.C. establishment. We were told by the “experts” that we were in danger of imminent default (a lie, since we were still able to pay the interest on our debt) and economic collapse, and that if the government didn’t act now (sound familiar? Iraq, stimulus package, et al?), we would be doomed.
But the eventual deal left little hope for any meaningful debt reduction or spending cuts, resulting in Standard and Poor’s lowering their U.S. credit rating for the first time in history. There is now talk of an impending “double-dip recession”, as stock values plummet and investors flee.
Of the Republican candidates for President, Jon Huntsman Jr. was the first to declare his support for the Budget deal, calling it “a positive step toward cutting our nation’s crippling debt”.
Either Huntsman is completely out of touch with reality, or he knows that this deal did nothing to cut our debt and is lying.
As soon as the debt ceiling was raised, the U.S. debt shot up $239 billion in one day – accounting for 60% of the amount approved. We have yet to see any significant spending cuts. How is borrowing MORE and not reigning in spending a positive step toward cutting our nations’s crippling debt?
The answer is simple: it’s not.
The budget deal served one purpose: to perpetuate and expand the power of the State. And, knowingly or not, that is what Huntsman supports.
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