Thursday, August 18, 2011

A Slower Financial Train to Ruin

The Virginian Pilot published my op-ed this past Tuesday on the recent Obama-Republican Debt Increase "accommodation" which is sending the USA to financial perdition at a slightly slower pace President Obama’s earlier timetable for the collapse of American world influence. I thought you might find it interesting.

Assigning a Crisis to a Committee
By Delegate Bob Marshall
Most people would not call $1,150 a significant "down payment" against a $350,000 home mortgage.
Yet this is the same percent "reduction" in federal spending that Republican congressional leaders and President Barack Obama have the nerve to call a down payment on our debt. Their deal cuts not one penny from the federal budget but only slows the rate of increased spending.
Amazingly, Republican congressmen could be heard cheering on the House floor as they approved the largest debt-limit increase in our history without any real cuts, merely slowing the rate of debt increase by 20 percent.
Part of the pseudo deficit reduction deal is a provision that later this year a joint committee of six members from the House of Representatives and six from the Senate are supposed to suggest more spending changes or even tax increases. The 12 disciples of debt are under the gun to propose different ways to increase spending at slower rates. They can call these actions spending cuts, but they almost certainly won't be real cuts. ...

For the rest of the op-ed go to

Delegate Bob Marshall
Delegate Bob Marshall
R - 13th District of Virginia

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