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Monday, January 25, 2010

Deficit-Cutting Panel Set Up

“Just as President Obama and Congressional Democrats are trying to create a bipartisan commission on reducing the debt, some well-known former elected officials and veterans of past administrations are announcing their own task force on Monday, underscoring the mounting concern over the nation’s fiscal future. The timing of the group’s formation is coincidental, organizers said. Yet the outside group, including prominent Democrats and Republicans, could provide pressure and political cover for the parallel effort by the administration and Congressional leaders to consider both unpopular spending cuts and tax increases.” (New York Times, Monday)

Raising taxes to close the deficit means punishing productive people and the public for what the politicians did.

FEE Timely Classic
“Government Spending Must Be Cut” by Hans F. Sennholz