Debt Limit

The new worst words you can hear coming out of Washington DC, "over the next ten years".

They are calling for spending cuts of $3 trillion over the next ten years. Wow, sounds like a lot, but..... current spending is running $1.3 trillion over revenues. Take that times 10 years and that's $13 trillion, less the spending cuts of $3 trillion and all we do is increase out debt by $10 trillion over the next ten years. That sounds pretty stupid. Until you hear a number around $13 trillion for spending cuts it doesn't mean shit.