According to the Knoxville News Sentinel front page headline this morning, Obama and congressional leaders ended a "perilous stalemate" when they announced a "historic agreement" on a "dramatic resolution" to narrowly avert "financial default" one day before total disaster.
Pretty dramatic. Never saw that coming. Aren't we lucky to have such heroic political leadership? They are our saviors.
The "dramatic resolution" apparently includes extensive spending cuts and creative tax increases, because that's generally how you get out of debt.
Wait, this just in... we are being told that the deal does not, repeat does not include any tax increases. And no one is saying what spending will be cut, except Medicare, Social Security disability, and student loans. There has been no mention of magic beans, fairy dust, or voodoo in any of the various news reports.
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