Debt Deal is Just Smoke & Mirrors
BY JEFF BERWICK
That’s it? This is the deal? This is what they’ve been supposedly fighting over for months?
We’ll get to the exact details in a moment but let’s start by doing a fantasy comparison of the same “cuts” being made in a format that the regular man on the street can understand.
Doctor: Uncle Sam, you’ve been drinking larger and larger amounts of alcohol every day since 1960. 1960 was the last year where you didn’t drink. You are going to die if you keep this up.
Uncle Sam: I don’t want to die, Doc. Tell me what I need to do.
Doctor: Well, from 1960-1975 you weren’t too bad. You drank 3 or 4 beers per day but it was under control. You could have stopped if you wanted… you just didn’t. However, throughout the 80s it increased to about 5 or 6 per day and then by the 90s you were up to drinking 10 beers a day.
Uncle Sam: Yes, Doc, but remember 1999 and 2000? I slowed to only 5 or 6 beers per day again.