It's full of the usual diatribes and complaints about how Congress can't afford to limit itself, how we have to be able to spend more than we collect in tax revenues each year.
But here's the quote that jumped out at me:
Democrats overwhelmingly opposed the proposal, arguing that such a requirement would force Congress to make devastating cuts to social programs.Um, well, yeah, that's sort-of the point now isn't it. We need to make cuts across the board, as we're spending roughly twice what we collect, and we now have a federal debt of over $15 TRILLION. Calling them "devastating" is just the usual verbal scare-mongering that is sadly used by members of both sides of the aisle. I remember when we would have to say "billion with a 'B'" to distinguish from "million with an 'M'". Sadly, the only time we hear the word 'billion' anymore, it's related to amounts that are usually prefaced with the word 'only'.
It brings to mind the old saw about government spending: A million here, a million there, and pretty soon we're talking about real money. Billions of dollars in spending are now part of the noise floor, and don't even make us raise our eyebrows.
It's like this, Congress. If you don't start making "devastating" cuts to the entire Federal budget, the impending economic collapse will aptly be described as devastating, and we won't even have to use scare quotes.