"I am concerned about this because we don't know the details. And until we see the details, we're going to be extremely non-committed but on the surface it looks like a Satan sandwich," Rep. Emanuel Cleaver (D-Missouri)Funny that they could pass cap and trade in 2009 without anyone having read the bill. ObamaCare too. But a bill without tax increase? Well that's just plain evil:
UPDATE: It's a Deal: Obama, Congress Will Avert Default
It doesn't avert default unless that's what Obama wanted Geithner to do, but anyway.
UPDATE #2: Greta Interviews Sessions As Late-Hour Deficit Reduction Deal Is Announced
The Republicans are killing Keynesian economics with their attempt to cut spending as the economy rebounds from a recession, Senate Majority Whip Dick Durbin (D-Ill.) said in a floor speech on Sunday.Which extended the Great Depression many years by th eway. How little Democrats have learned since then...
"I would say ... that symbolically, that agreement is moving us to the point where we are having the final interment of John Maynard Keynes," he said, referring to the British economist. "He normally died in 1946 but it appears we are going to put him to his final rest with this agreement."
Keynes argued that aggregate demand was not always enough to spur full employment and that outside structures, such as governments, could influence the economy to create jobs and regulate business cycles. His thinking influenced later New Deal spending by President Franklin Delano Roosevelt.
