Leadership Gone off the Chain

Earlier this week, the “Gang of Six” hit a big road bump as Senator Tom Coburn (R-OK), “began pressing for sharper cuts to Social Security than had been previously agreed to” and “demanded deep and immediate cuts to Medicare that went beyond anything previously proposed.” Clear “cut” signs he was being uncooperative and had to go.

More recently, he announced that he’s cooking up “his own plan to reduce the deficit by $9 trillion over ten years.” Best of luck to him, though, as it looks unlikely that the US Congress has “teeth” do any real cutting. Much like the chainsaw below, the Congressional tools the nation has on hand don’t appear up to the job it’s been designed to perform.

See the cartoon below, which came to our attention via a Chicago Tribune opinion cartoon on the US’ budget chainsaw.

The Daily Reckoning