Negative Space: spending
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- Why the Super Committee Failed
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“President Obama summed up our debt crisis best when he told Republican members of the House in January 2010 that ‘The major driver of our long-term liabilities… is Medicare and Medicaid and our health-care spending.’ A few months later, however, Mr. Obama and his party’s leaders in Congress added trillions of dollars in new health-care spending to the government’s balance sheet.
‘Democrats on the committee made it clear that the new spending called for in the president’s health law was off the table. Still, committee Republicans offered to negotiate a plan on the other two health-care entitlements—Medicare and Medicaid—based upon…”
Austerity, to politicians, doesn’t mean what you think it means.
A hundred million here, a hundred million there, but the billions don’t happen until Tuesday.