Monday, December 6, 2010

The Tax Deal

Washington has been flooded with deficit reduction plans of late. They have different ideological shapes, but most require everyone to sacrifice something they want. That wasn't how this deal came together. Both sides agreed to give each other largely what they wanted. It is financed entirely by adding to the national debt. (Whee!)

I'd like to take this opportunity to thank my children (and grandchildren) for allowing my government to continue spending like there's no tomorrow and not paying to for it. Thanks.

I entertained the notion GOP gains in 2010 & 2012 would change the attitude in Washington toward spending. I'm wondering now if it's only the bond market that can do so.

Posted via email from rhymeswithclown's posterous


JB said...

Really?! You thought the free spending GOP of the past was going to change their ways in 2010/2012? What would be their motivation to change?

J. Strupp said...

It takes a special group of people use 2 million unemployed Americans with expiring benefits as leverage to keep taxes low for rich people.

Once again, the GOP has made it crystal clear that they're uninterested in bringing down unemployment in this country. They're uninterested in long run deficit reduction. About the only thing they seem to be interested in is keeping income/estate taxes low for their buddies.

Which is nothing new. Which should never be a surprise.