I have a number of friends who consider themselves Tea party members. I am sympathetic to their fiscally conservative point of view. I think they and their GOP allies have won a victory in this latest debt ceiling battle. They have forced spending cuts on the free spending deems and avoided tax increases. It also sets in motion votes on a balance budget amendment. bo was all but absent from the debate. bo is a spectator, not a leader. I think at this point my Tea Party friends need to declare victory and move on to getting the Ryan budget passed. I love my American friends and family, but their economy is a mess. The government debt is unsustainable without hyper inflation. The markets seem to approve, so I hope the house and senate pass this deal. Here is House Speaker's Powerpoint on the deal.
Just a day before the deadline to raise the U.S. debt ceiling, the Obama Administration struck a deal with lawmakers to increase the limit and cut trillions in spending, setting off a sharp rally Monday morning ahead of a vote on the package in both houses of Congress.
The deal would cut some $2.2 trillion out of the federal budge and extend the debt limit through the 2012 election, a crucial consideration for President Barack Obama. The plan also calls for a bipartisan committee in Congress to cut another $1.5 trillion from benefit programs or tax reform by Thanksgiving.