Monday, November 21, 2011

Failing towards success

As many of you may know by now,congress has been trying to cut down some of this massive deficit we have here in America. Of course they've been doing this by suggesting that we cut spending and maybe even change the tax rate by a little bit. With these ideas going nowhere thanks to a lack of support from both sides of the aisle,a super committee was formed. This committee was charged with the task of finding a way to cut $1.2 trillion from our deficit. As expected they failed and failed miserably mainly due to some members balking at the idea of raising taxes even a little bit on the top earners in this country. Of course it's been proven that if they would have actually done nothing it would pretty much wipe out the entire deficit and pay down a huge amount of the debt. I guess what I'm saying is that congress basically spent the summer actively shooting itself and America in the face. No wonder they have only a 9% approval rating. Below is a chart released by economists today that shows what would happen if congress does nothing after this unsurprising show of incompetence on the part of congress.

Hint: Their stupidity just may slash the deficit.