Earlier in April I called the so-called 'budget compromise' "a lie from beginning to end". I've so far seen nothing to make me change that verdict . . . in fact, blogger Philip Greenspun makes it even more clear.
The FY 2011 federal budget is approximately $3.82 trillion. Of that, approximately $2.17 trillion will be paid for by taxes collected and the remaining $1.65 trillion will be borrowed from our grandchildren. If we divide everything by 100 million, the numbers begin to make more sense.
We have a family that is spending $38,200 per year. The family’s income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.
There's more at the link. Mr. Greenspun highlights the insanity of the 'budget compromise' better than anyone else I've yet read.