Why would anyone think that this shame of a bill would do anything toward national solvency. Obama clearly knows that it will do nothing. For him, it gave him more time to engage in more stimulus spending, printing more cash (quantitative easement III), and to find ways to attempt to buy votes for his next election.
These politicians are not idiots. They know they are spending money that does not exist. They know they are spending future generations' money. They just don't care. They hate capitalism in favor of power. Consider:
US debt shot up $238 billion to reach 100 percent of GDP after the government's debt ceiling was lifted.The bill's requirement for a twelve-man committee will be comprised of Washington Congressional insiders -- tax and spend Democrats and RINOs. They will do nothing with Social Security, Medicare, Medicaid, Obamacare -- the real budget killers.
Collectively Republicans caved yet again. I am thankful my two Senators (Hatch & Lee) noted NO. I have a Democrat for a Rep (Matheson) and he usually tows the Party line and voted for the bill in the House.
The winners were Washington insiders. Tea Partiers lost big. Americans lost big, even those that will "benefit" from federal handouts -- kept fat, dumb and happy.
After all is said and done, the debt ceiling bill was normal, corrupt Washington politics. Speaker Boehner and Senate Minority Leader McConnell are RINOs despite their rhetoric. They are gutless and let us down.