(Reason)
Speaker of the House Nancy Pelosi (D–Calif.) rejected a White House offer on Friday to cut $150 billion in federal spending over 10 years as a part of a possible deal to raise the debt ceiling.
Now, $150 billion might sound like a large amount of money. But relative to how much money the federal government is set to spend over the next 10 years, the White House's proposed cut is roughly equivalent to deciding you'll eat one fewer Chipotle burrito per month for the next decade. That's not going to pay off a maxed-out credit card.
The fact that Pelosi rejected such a comically small reduction without even giving her colleagues the chance to consider it tells you all you need to know about the state of fiscal responsibility in Washington right now. Read more
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