So, a deal to vote on the debt ceiling has been FINALLY been struck.

As it always happens in Congress, the members wait until "zero" hour and then rush a piece of garbage through so that they can turn to us and announce, "See we CAN accomplish something!"

This, inevitably, leads to passage of a bill that often accomplishes nothing except to leave taxpayers with a host of unintended consequences. 

Such is the case with this agreement.

The deal raises the debt ceiling by $2.4 trillion in 2 stages and initially cuts spending by $917 billion over the next 10 years. 

Congratulations, Bozos!

On a deficit fast approaching $14.4 trillion, the cuts amount to about 1.5%.

Woo-hoo! 

And, of course, we are assuming (major assumption) that those later year cuts are able to hold.

We forgot to mention that a special committee of 12 evenly divided among parties will be charged with finding an additional $1.5 trillion of more cuts through tax overhaul and safety net changes. 

If they are unsuccessful in making those cuts--speaking of unintended consequences--such issues as possibly smaller Medicare payments to your doctor could become a reality.

If you think the overblown rhetoric is finally over, think again.

The fun has just begun.

We will now be subjected to more of the same from now right through Election Day next year.

We suppose the good news is that cable news programming will never be at a loss for "shocking" filler programming.

The toughest questions remain unanswered.

This latest attempt at smoke and mirrors will do nothing to address the problems of entitlements such as  Medicaid, Social Security, government retirement plans or Medicare.

The biggest fear we have is that the equally divided "Special Committee" will not make the first deadline for more cuts set for Nov.23.

Get ready, America.

Ten to one that they'll throw up their hands and agree to raise taxes on every taxpayer instead.

What else is new?

This bill will, likely, be rejected by liberals because it doe slightly "tweak" social programs and doesn't raise taxes.

It will also likely be rejected by conservatives for not cutting enough.

Stay tuned...the drama has just begun.