Monday, August 1, 2011

A Raw Deal

No serious person would dare countenance default by the government of the United States, but the deal under consideration to raise the so-called debt ceiling seems simply atrocious. What is not needed but what is offered are accounting tricks and tripwires for what would become automatic tax increases imposed by a bipartisan commission in the teeth of continuing economic downturn. This new-found mechanism (like bipartisan military base closing commissions that absolve politicians of responsibility for hard choices that carry a political cost) will have provided cover for RINO politicians who will not openly vote for raising taxes but who are willing to go along with higher taxes so long as they can wash their hands of them. Once again, laying blame off on others becomes the priority over solving our fiscal problems and putting order to America's crumbling fiscal house by really cutting spending and having meaningful, systemic reform of Social Security and Medicare (which incidentally, is the only way to save these entitlement programs).

No comments: