Tuesday, August 2, 2011

And the debt limit deal is done.

What a disgusting show in congress.  The only marginally positive thing is that the debt limit has been raised, and the country is not in default.  But we are in a poor economic state, at dire risk of a double dip recession, and the republicans are forcing cuts in stimulative spending: not extending unemployment benefits is not just mean, it's stupid economics.
The way to reduce the deficit is for the economy to grow, to get people taking unemployment benefits to instead be paying income taxes.
But instead of a clean debt limit bill, we are forced to accept a disaster of a bill, sure to lead to ugliness in congress, and likely to lead to less growth, and possibly even a second recession.

Yours, Tunbridge-Wells-ishly,

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