Hennessy's View

What Everybody Ought to Know About the Debt Deal

There’s hysteria on both sides. From Satan Sandwiches to “killing future generations,” you’d think Congress is voting on a bill to launch the US nuclear arsenal on Philadelphia, Detroit, Atlanta, and Los Angeles. There are reasons to distrust the deal. I distrust it. There are great reasons todistrust the Congressional committee charged with finding more cuts. The bill does far too little, too slowly, to prevent a credit rating cut in the near future. Read more →

5 Things to Question About Debt Deal

Yes, the Tea Party movement influenced what went on in Washington. No, the Tea Party is not the winner. (No one won.) No, this debt deal won’t guide the government off the road toward bankruptcy. Here’s why. No Entitlement Fix: In fact, it appears that entitlements aren’t touched. Entitlements are the nation’s spending problem. Not roads and bridges, not the military. Entitlements. Until we arrest and reverse growth in Social Security, Medicare, and Medicaid, we’re spitting in the ocean. Read more →