Six Steps Forward; Seventy-Two Steps Back
Billions, that is, and it still had some alleged fiscal conservatives on their heels bemoaning what amounted to a drop in the bucket of much needed spending cuts. This from CNSNews:
The national debt jumped by $72 billion on Tuesday even as the Republican-led U.S. House of Representatives passed a continuing resolution to fund the government for just three weeks that will cut $6 billion from government spending.
If Congress were to cut $6 billion every three weeks for the next 36 weeks, it would manage to save between now and late November as much money as the Treasury added to the nation’s net debt during just the business hours of Tuesday, March 15.
Any more continuing resolutions of this ilk and the federal government will be continuing itself right into abject insolvency.
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