Well, the fake debt ceiling fight got us some fake spending cuts!
When you strip away all of the rhetoric the spending "Cuts" in this debt ceiling deal are actually increases in real spending.
The fact that the "Largest spending cut" ever is going to increase spending tells you everything you need to know about Washington DC. And the sad reality is there is no way that the federal government spending will be contained by this deal.
The spending limits will last right up to the moment the government comes up with some new emergency to justify more spending.
Even with these "Historic spending cuts," total spending will still be more than a trillion dollars above where it was in 2019.
There is no other way for the market to absorb all of the debt the Treasury will have to issue to support the spending with on a credit card with no limits.
After months of wrangling, we have fake spending cuts and an effective debt ceiling of infinity.
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