“President Barack Obama’s promise Thursday that everything in his jobs plan will be paid for rests on highly iffy propositions. It will be paid for only if a committee he can’t control does his bidding, if Congress puts that into law, and if leaders in the future — the ones who will feel the fiscal pinch of his proposals — don’t roll it back…. [I]f the moment was extraordinary, the plan he presented was conventional Washington rhetoric in one respect: It employs sleight-of-hand accounting.” (Detroit Free Press)
The deficit will grow.
FEE Timely Classic
“What Spending and Deficits Do” by Henry Hazlitt