So, the republicrats are happy in this raising of the debt ceiling bill.... why? Because there are no tax increases. Really?
http://www.christianpost.com/news/bo...ng-bill-53196/
The Christian Post > Politics|Mon, Aug. 01 2011 08:02 PM EDT
Huh?The compromise bill provides for an immediate increase of $400 billion dollars and allows President Obama to request another $500 billion in the next several months.
However, Congress would stop the second installment by a veto proof two-thirds margin. A further increase of $1.2 and $1.5 trillion would be available after a special committee, also known as a “super committee,” of twelve members identifies matching levels of spending cuts. The committee must complete its work by Thanksgiving of 2012 and Congress must hold an up or down vote on the recommendations by December 23 of the same year.
So a "super committee" of select commies will be our watchdogs and gateway to another $2.7trillion debt increase on top of the $900billion just approved. Oh, I feel safe with that. Not.
Let's do some stupid numbers. Let's figure there are 230 million Amerikans over 18. Of those let's be generous and figure there are 150million paying any taxes (federal income). If we are adding, in this fine bill, another $3.6trillion of debt (400b + 500b + 1.2t + 1.5t) that works out to be $24,000 additional debt per working person.
Eric Cantor said he was happy that there were no new taxes. How does he arrive at that? Inflation is the insidious tax that steals from savers.
Boneher said he got 99% of what he wanted in this bill. Huh? Can someone splain that to me?
There are many long range repercussions to this. I am sure the minds here will come up with a few.