The deal reached by Democratic and Republican leaders in Congress, Obama said, would first cut nearly $1 trillion in spending over the next 10 years while raising the debt ceiling by the same amount.Notice the semantics. "We're cutting spending by $1 trillion."
However, that's the cuts *OVER 10 YEARS*. The cut in current spending is around $100B, on tenth.
Notice that $100B is a negligible amount, compared to the total Federal government's budget.
Really, the Federal government's budget needs to be slashed by 50%-75% or more. That "isn't politically feasible", because lobbyists will always object when you cut their pork.
Also, the cuts in years 2-10 mean *NOTHING*. A future Congress can always change their mind.
State budget logic is amusing. If you increase spending by less then expected, that's a budget cut.
As I predicted, the Republicans and Democrats reached a deal. What do you expect them to do? Shut down the Federal government permanently and go get a real job? Of course they reached a deal.
Unless Congress repeals or reforms the Federal Reserve, an exponentially-increasing national debt is needed to keep the monetary system scam running. The rules of the monetary system guarantee that Congress must periodically raise the national debt limit.