“If the CBO’s scoring is correct – that it reduces the 2012 deficit by just $1 billion – then the ‘cut’ represents what the United States borrows every five hours and 20 minutes. In other words, in the time it takes to photocopy and distribute Boehner’s ‘plan,’ the savings have all been borrowed back.
“As for the rest, I’m philosophically opposed to ‘entitlements’ because they strike at one of the most basic principles of representative government – that a parliament cannot bind its successor. But the same objection applies to jelly-spined legislators announcing grand plans for bazillions of savings years after their term of office has expired. Who knows what’ll be happening in 2017? Maybe North Korea will accidentally nuke the South Sandwich Islands and we’ll be expected to chip in for reconstruction.”