Who will Benefit and be Hurt by the Budget /Debt Deal
Posted on August 1st, 2011 | by A Worker |Good story from The Nation about who will benefit and be hurt by the budget /debt deal. Guess what? Workers and the poor are getting screwed, and the Masters of the Universe will get off scot-free.
Congress (might) pass a debt deal [1] this week that would raise the debt ceiling into 2013 and reduce government spending by $2.5 trillion. After all the debate over who would be affected—or not—what does the final policy scoreboard say?
In short, it’s a rout of the lower and middle classes by the wealthiest Americans. Since the deal relies entirely on spending cuts with no revenues—don’t believe the White House spin [2] that revenues are possible, because that would require Republicans to suddenly desire them—the wealthy escape any sacrifice since very few of them rely on the government services that will be cut. Read the rest
