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Monday, July 25, 2011

The Source of the Problem

As I look around for something to talk about or post, just a reminder:

...the Bush tax cuts have had a huge damaging effect. If all of them expired as scheduled at the end of 2012, future deficits would be cut by about half, to sustainable levels...

Add in the spending on wars and the total is even larger.

[Let me add that, in effect, we are trading tax cuts for a weakened social safety net and for most people that's a terrible deal.]

    Posted by on Monday, July 25, 2011 at 09:54 AM in Budget Deficit, Economics, Taxes | Permalink  Comments (38)


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