Some Takes on the Vote on the Fiscal Commission Vote

From the Brookings Institution.

In class yesterday as we were reviewing the bicameral system and how it was intended to tie the House closely to the immediate preferences of the public and detach the Senate from the same I suggested that the Senate was more likely to support the plan since the longer terms of office shield them from the immediate anger (short-term) that could follow their support. This despite the fact that the proposals serve the long term needs of the country.

Well, I was right.

5 out of 6 Senators voted for it.
5 out of 6 Representatives voted against it.

Debt Commission Spending Cut Recommendations

Click here for the actual recommendations made by the Debt Commission. These are only the expenditures. They propose $100 billion each in defense and non-defense spending.

Also worth reading:

- Disappointment in the reactions to the plan.
- Warts and all, it may be the best we can do.

A nice line, and a word of warning, from one of the links above: There is no magic pot of money out there that does not come attached to some angry interest group.