Economy

From the Loopy Old Man News Desk…

Alan Simpson stated the semi-obvious over the weekend: that the fiscal cliff deal isn't really a huge deficit-cutting measure.

“This thing isn’t going to do anything, really,” Simpson said Sunday on “Meet the Press.”

He said tackling the deficit will still require significant spending cuts, especially to entitlement programs. Simpson lambasted Senate leaders for not working together, and he noted that increases in lifespan are rapidly straining Medicare and Social Security.

“What the hell? Who’s kidding who?” Simpson said.

I still can't believe this cranky fossil has any influence whatsoever beyond his portion of apple sauce at the retirement village. Not only is he crazy, but he's primary contributor to the inside-DC groupthink that's obsessed with hacking away at Social Security and Medicare while drastically cutting the deficit before the economy has fully recovered.