RV is absolutely correct. Waste, fraud, fat, etc. is round off error. Eliminate it all and the problem is not solved. Not even close. So we should STFU about it as a means of balancing the budget. It is absolutely appropriate to go after it on the basis of corruption and individual culpability for lying, cheating, etc. But it has nothing to do with Moody's decision. Until we get back to the government doing only what it is authorized to do and nothing else we have no chance of balancing anything.
RV is absolutely wrong about cutting the military budget as being anything useful in the big picture of federal budgeting. I do not see the federal government being authorized to fund a retirement scheme in the Constitution. I do not see the federal government taking money from one person and giving it to another person in the Constitution. I do not see the federal government being the main provider of medical services in the country in the Constitution.
The politicians are expertly executing game theory here. Everyone knows (except true socialists who are innumerate) that this house of cards will tumble down. However, both sides also know that to do anything about it will result in political and electoral disaster for their side. So both are bluffing until the end. And it makes perfect sense from the incentive systems in place right now. The behavior is very rational - if you have a short term perspective of 5 - 10 years to worry about.