Wednesday, April 13, 2011

More Flying Pigs


There's something in the air or in the drinking water. An editorial in today's New York Times comes down righteously on the need for more revenue if the federal budget is to actually start trimming the deficit.

Here are two numbers to keep in mind when thinking about the House Republicans’ budget plan: They want to cut spending on government programs over the next decade by $4.3 trillion. And they want to cut tax revenues over the same period by $4.2 trillion.

Government spending needs to be brought under control. But slashing vital services just to pay for more tax cuts is bad public policy and bad economics.

It won’t fix the deficit, no matter what the Republicans claim.

To support this assertion, the editorial cites recent history: Reagan, Clinton, and George W. Bush. Tax cuts for the wealthy did not help the economy. In fact, it hurt the economy and ran up the deficit everyone in the Village of Serious People is so concerned about.

These are the economic facts, which Americans need to hear. The Republicans certainly won’t tell anyone. And, so far, the Democrats haven’t had the political courage to challenge them head-on.

Amen to both accusations.

Now it's up to President Obama to bring these facts home today, to educate the public as to the need to increase revenues by rolling back the tax cuts the GOP is so anxious to protect. Will he do it?

We'll know by tonight.

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7:48 AM  

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