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What’s One Good Thing About the Fiscal Cliff?
Originally posted at Capital Gains and Games.
Ask the question in the headline above to a politician, and he or she is very likely to respond with something about how the pressure of the intentional and inadvertent spending cuts and tax increases that are scheduled to go into effect around Jan. 1, 2013 — the fiscal cliff — will finally force the other side to compromise. Without that policy guillotine poised to come down on everyone’s necks, they’ll say, the gridlock on the budget of the past two years will continue or, heaven help us, intensify.
But ask that same question to a federal budget wonk like me and you’ll get a completely different answer. As far as I’m concerned, the one good thing about the fiscal cliff is that the debate has already produced significant results that completely contradict much of the nonsense (I’m really pulling my punches here) that’s been said about the federal deficit and that has made action on spending, revenues, the deficit and national debt much harder than it should have been.
Sadly, the fiscal cliff debate has also shown that the red ink in Washington will be far more enduring than any Member of Congress will ever admit.
Progressive Breakfast
Each morning, Bill Scher and Terrance Heath serve up what progressives need to effect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security.
MORNING MESSAGE: Media Letting Romney Get Away With Lies
Progressive Breakfast
Each morning, Bill Scher and Terrance Heath serve up what progressives need to effect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security.
MORNING MESSAGE: Media Letting Romney Get Away With Lies
Romney: Protecting the Rich Is More Important Than Deficit Reduction
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