Wednesday, August 31, 2011

A better take on the Grim Deficit cuts

Howard Gleckman talks about the impossible task of the Congressional Bankruptcy Committee. First the truth:
Congress will find a way to avoid, evade, delay, or otherwise confound these spending limits. In other words, the stick that is supposed to force lawmakers to act is mostly sawdust.
And:
Democrats won’t agree to entitlement cuts unless Republicans accept new revenues. Btw, this is not a matter of equivalent intransigence. Ds are, in fact, much more likely to swallow cuts in Medicare and Social Security than the House GOP is to accept any net increases in taxes.
I have a better test I would like to see how much the defense budget can be cut before the defense executives go crying to Grover Norquist. Already we have seen the Tea party capitulate as their Red State Goodies were cut. Now we have a Texan who wants more defense goodies. Both parties want to pay for this with deficit spending , but the deficit will rise by 30% as the Double Dip hits.

1 comment:

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