There are House Republicans patting themselves on the back today for passing a three week continuing resolution that “cuts” $6 billion in spending, largely by stopping earmarks not already spent.According to the Politico, Rep. Steve Stivers (R-OH), Mike Simpson (R-ID), Kevin McCarthy (R-CA), and others are bristling over conservative opposition to the short term spending resolution. That opposition, by the way, was because the spending cuts were not enough.The Weekly Standard reports today that as of today the federal government’s mandatory spending exceeds all federal revenue. We’ve reached that point, by the way, fifty years ahead of schedule.But beyond that, I hope John Boehner, Eric Cantor, Kevin McCarthy, Jeb Hensarling, and the rest of the House Leadership and those Republicans who supported the 3 week continuing resolution “cutting” $6 billion realize this:The daily amount of interest we will accrue on our national debt is greater than the $6 billion saved over three weeks. In other words, these cuts have done nothing to save us any money.The Democrats, by the way, probably want to adopt that as a talking point to embarrass the supposedly fiscally responsible Republicans. Oh wait, they won’t because they don’t want to cut anything at all.
A Note to House Republicans Patting Themselves On the Back