The US House of Representatives passed their 2012 budget. While it does well to open the doors and conversation towards a reform of entitlement spending, especially in Medicare and Medicaid, it doesn’t do enough to handle spending, debts and the deficit.
Even though there are $6 trillion in cuts, it takes place over 10 years and there are still deficits for 2012 ($1 trillion!) and more deficits way into the future, as much as $391 billion into 2021. This isn’t good enough!
Ruling class Republicans still can’t shed their Washington ways and they are risking a third party by the Tea Party and others in the popular wave building in the US. The party is likely to vanish in importance in about 5 years.