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Debt ceiling: Budget Deal Doesn’t Cut Spending

Chris Edwards at Cato writes:

Republicans and Democrats have come together on a “historic” budget deal that … [the] Washington Post’s lead story calls the cuts “sharp” and “severe.”

However, the budget deal doesn’t cut federal spending at all. …

The “cuts” in the deal are only cuts from the CBO “baseline,” which is a Washington construct of ever-rising spending. …

No program or agency terminations are identified in the deal. None of the vast armada of federal subsidies are targeted for elimination. Old folks will continue to gorge themselves on inflated benefits paid for by young families and future generations.

Read the whole post:  Budget Deal Doesn’t Cut Spending

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