France's budget deficit is currently 3.7% of GDP. Recall that budget deficits exceeding 3% is over treaty limits. With Hollande at the Helm, any rational-thinking person understands the odds Hollande reduces the French budget deficit to zero by 2017 is roughly 0%.
Rep. John Boehner says the goal is spending cuts, not a government shutdown. The House Speaker urged the Senate to pass a GOP measure that funds the government and eases some budget cuts, but leaves most.
"That's part of the job, they're working on the the budget," White House Press Secretary Jay Carney said today. He said that he expects the budget to be out by March even though the budget is already over a month late.
I am indebted to Amity Shlaes for gently correcting a joke of mine that dates back to July 8, 1972. On that date in the New York Times, I joshed that President Calvin Coolidge "probably spent more time napping than any president in the nation's history" and therefore was a successful president.
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