The recent minor cuts made to avoid a threatened government shutdown will have almost no effect on this future crisis I am talking about. It appears that before the cuts, the 2011 fiscal deficit would have been $1.65 trillion. The cuts total about $50 billion, with $38.5 billion in the deal and another $10 billion done earlier as part of the continuing resolutions.
The national debt on 9/30/2010 was $13.561 trillion. On 9/30/2011 it should be about $15.16 trillion, and this is after the cuts.
I am all for anything that would improve the situation. However, the deficit is at least $100 billion/month and the cuts at best totaled $50 billion. So the "fix" pushed the crisis out by 2 weeks at best.