Sen. Tom Coburn (R-Okla.) told CNSNews.com that the Budget Control Act of 2011 does not actually cut spending for fiscal year 2012, which means the federal government will spend more in FY 2012 than it did in FY 2011.
Shortly before the Senate vote on the debt ceiling legislation on Tuesday, CNSNews.com asked Coburn: “Under this current debt ceiling bill, will the federal government spend more in fiscal 2012 than it did in fiscal 2011?”
Coburn's one-word response: “Yes.”
CNSNews.com followed up by asking, “So this is not a bill cutting spending?” He replied, “No.”
The Senate passed the Budget Control Act 74-26 on Tuesday, beating the Aug. 2 deadline to raise the debt ceiling. President Barack Obama signed the bill into law today.
The act allows the president to request a debt ceiling raise of $400 billion immediately, then another $500 billion in the fall dependent upon congressional approval. Through spending caps, the GOP leadership managed to achieve dollar-for-dollar spending cuts over the next 10 years.
Comment: It's interesting to read all the commentaries throughout the web from bloggers and pundits alike, of which the majority still believe that Republicans caved or Obama caved, but the truth is what we got in S.365 is what the oligarchs wanted. Just as the oligarchs got what they wanted in 1913. There is no competition of ideals or political parties in Washington; only one agenda, one direction, one party.
Yet time and time again the American people fall for the circus act and smoke and mirrors. Unfortunately the realization will only come when we truly go bankrupt and hit actual rock bottom, it's sad to say. If our neighbors don't understand what took place with S.365 and that whole debt and budget battle is unconstitutional and is in fact killing our country, then there is little hope we'll turn this around. If we do not have a sense of what is right and wrong the oligarchs will continue to rob us blind and truly makes us slaves to the government, something a few believe we are already living.