All Commentary
Friday, September 9, 2011

Deficit-Neutral Plan Rests on “Ifs”

“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