Tuesday, March 1, 2011

Deficit Fever

"It’s amazing how this whole crisis has been fiscalized; deficits, which are overwhelmingly the result of the crisis, have been retroactively deemed its cause."
Paul Krugman
Misguided Narratives
February 21, 2011

"A bipartisan group of senators thinks a sensible deficit reduction package would involve lifting the Social Security retirement age to 69 and reforming taxes, purportedly to raise revenue, in a way that would cut the top income tax rate for the wealthy from 35 percent to 29 percent.

Only a body dominated by millionaires could define 'shared sacrifice' as telling nurses' aides and coal miners they have to work until age 69 while sharply cutting tax rates on wealthy people. I see why conservative Republicans like this. I honestly don't get why Democrats - 'the party of the people,' I've heard - would come near such an idea."

E.J. Dionne Jr.
The Tea Party is winning
Monday, February 21, 2011

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