Monday, December 3, 2012

Harry Reid finally gets tough and cuts costs. Austerity here we come

All of you worrying about the U.S. spending its way into default or runaway inflation need not fear.  Harry Reid is on the job. When asked what he was prepared to cut in the Fiscal cliff negotiations he said:

“Now remember, we’ve already done more than a billion dollars worth of cuts. We’ve already done that. So we need to get some credit for that.”

With a deficit this year of over $1.3 trillion this represents less than 0.1% of the deficit.

Phew.  Crisis averted

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