Here’s how Washington cuts the deficit:
1. Make some fake spending cuts.
2. Raise the debt ceiling so that real spending can continue.
3. Form a SuperCommittee to hash out a deal cutting $1.2 trillion out of the next decade’s $44 trillion in spending and/or $11 trillion in deficits.
4. Set up automatic spending cuts to take effect in case the SuperCommittee fails.
5. The SuperCommittee fails.
6. Axe the automatic spending cuts.
7. Business as usual!
And that’s it, unless we get to:
8. Appoint a SuperDuperCommittee consisting entirely of members who have been bitten by radiative spiders.
I’m really hoping to see Step 8.