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Argument: Debt deal cuts spending too early for recovery

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Supporting quotations

Michael Hitzik. "Debt ceiling deal ignores real driver of deficits: healthcare costs." Los Angeles Times. August 2nd, 2011: "The debt ceiling fight evaded the point that now is not the time to become preoccupied with limiting government spending, which is close to the only spending propping up a stagnant economy. It should not have escaped anyone's notice that the slowdown in the recovery reported last week, just as congressional pontificating kicked into high gear, coincided with the tailing off of government stimulus. Government layoffs are mounting, while private hiring hasn't materialized; the result is a sapping of consumer demand that will brake recovery even more."

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