Tuesday, January 1, 2013

Over the cliff no matter what

By Donald Sensing

Here is the plan the geniuses in Washington have come up with. Left side is tax increases under the Senate's plan that apparently will pass the House, $62 billion. Left is the 2011 budget deficit, $1,089 billion. Bigger version is here.

Then there is this observation:
It will soon become apparent that the fiscal cliff deal, including precisely the tax increases that Obama has been demanding for four years, makes hardly a dent in the deficit. At best, it will reduce the deficit by five or six percent. We will continue to run up deficits of close to $1 trillion a year, and the national debt will continue to grow, as Obama has always intended. This fact can’t be hidden; it will be reported. . . . All of this is another way of saying that, with the Democrats’ BS about raising taxes on the rich out of the way, we can have a rational debate about the country’s fiscal future. And that is a debate the GOP can win, as most voters continue to believe that it is better to cut spending than to raise taxes on them.
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