When the next U.S. debt ceiling comes around, one thing is for sure: the mainstream press will be shouting and crying about how important it is to lift the ceiling once again, thereby permitting the federal government to pile even more debt onto the backs of the American people.

Unfortunately, in the period of time leading up to the debt ceiling, the mainstream press never objects to the government programs on which all that money is being spent and, in fact, criticizes calls to reduce federal spending and borrowing.

A good example of this phenomenon is the massive amount of foreign aid that the U.S. government provides to the dictatorial regime in Egypt, which the mainstream press continues to support.

The front page of today’s New York Times reports that the U.S. government is nearing a pact that will cut $1 billion from a $3 billion debt that Egypt owes the United States.