HolyCoast: Economic Quote of the Day
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Monday, August 01, 2011

Economic Quote of the Day

From Rep. Jesse Jackson Jr. who says he'll vote "no" on the debt deal:
"Choice between job-killing default and job-killing austerity."
Austerity? I don't think that word means what Jackson think it means.

Over 10 years this country will spend $8 trillion more than it takes in. Without the deal we would have spent $10 trillion. That's austerity?

Somebody buy him a dictionary.

As Iowahawk reminds us, the cuts in this bill are roughly equal to cutting 1/10th of a french fry from a Happy Meal.  Some austerity.

1 comment:

Bob Hughes said...

Only in Washington DC can "austerity measures" and draconian cuts mean spending $17 billion additional dollars on Pell Grants! http://chronicle.com/blogs/ticker/fate-of-student-aid-in-debt-ceiling-deal-still-unclear/34973