Prison Planet.com » The Truth About The Debt Deal: It’s Pretty Much Meaningless. We have been inundated by the arguments about the debt ceiling and our deficit. Who knows what to believe. This is an interesting article. It’s short and to the point. The bottom line is, there will be cuts to federally subsidized student loans and nothing else now…only promises of future reductions that may or may not happen. And so…for the past month, Congress has argued about whether they might or might not agree to something sometime in the future…oh ok, maybe cutting $2 trillion over the next 10 years. How does that help now? Did anything even change? Or did we just watch congress do nothing once again?