Taxes and Deficits: Not Peanuts

Most everyone understand the fundamentals; you can’t cut taxes and reduce the deficit at the same time (unless you are willing and able to cut medicare, social security and defense substantially–the rest of government spending is peanuts).

And exit polls suggested that even these more conservative voters get what the Republican Party leadership still doesn’t: that there is no way to tackle the deficit and slash taxes at the same time. Only 19 percent said cutting taxes was the top priority for the next Congress.

via Election 2010 – NYTimes.com.

About Stephen E. McGaughey
International consultant in economic development programs and projects

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