IS THIS HOW THE TYPICAL LIBERAL MIND THINKS ABOUT THE DEBT CEILING?
EXCERPT:
The next government fight will be about the debt ceiling, and the Republicans are already mobilizing to hold the country hostage and demand entitlement cuts in exchange for not forcing the U.S. to default. And it seems reasonable to assume that, no matter how crazy and irresponsible this behavior is, the Republicans will probably extort some spending-cut concessions in exchange for agreeing to allow the United States Of America to honor its commitments.
So, it’s likely that we’ll get some entitlement spending cuts before long.
And then there’s the big picture, which is also important. The Republicans are winning there, too.
While I didn't particularly like it, I thought that it was a good analysis. Basically, he stated that the deficit would only be fixed by *both* tax increases and budget cuts. I don't necessarily like this, but I think that he's probably right.
Additionally, he *showed* where the money for the deficits was going....not defense, or Unemployment, or Food Stamps. Basically, it's going to Medicare, Medicaid, and SS. Defense (an FR sacred cow) and unemployment/Food Stamps (a favored FR scapegoat) are fairly minimal in the grand scheme of things.
So, in a nutshell, I didn't like what he said. I also disagree with him in that spending cuts need to come from everywhere, and no cut is too small. However, I came away from the readings with more knowledge than I started.
Here we have the next mantra.
Remember, the commitment is just to buy votes in perpetuity.
BTW - the bill that is to be paid by the payroll tax isn't just going to go away. This is just sleight of hand.