And we like the debt "reduction" deal because . . .?
The bill to increase the federal debt limit that has been put before Congress today would increase that limit by up to $2.4 trillion, which would be the largest increase in the debt limit in U.S. history by a margin of half a trillion dollars, according to records published by the Government Accountability Office and the Congressional Research Service.
For our editorial today, I dragged out a tired cliche that nevertheless seemed appropriate. If the debt problem is like a flooded basement, this compromise was a teasponful-of-water solution. But that's not quite accurate. All they agreed to do was slow down the extra water they're adding to the basement a little.
