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Tuesday, December 7, 2010

Obama Strikes Deal Over Economy

“President Obama announced a tentative deal with Congressional Republicans on Monday to extend the Bush-era tax cuts at all income levels for two years as part of a package that would also keep benefits flowing to the long-term unemployed, cut payroll taxes for all workers for a year and take other steps to bolster the economy…. The package would cost about $900 billion over the next two years, to be financed entirely by adding to the national debt, at a time when both parties are professing a desire to begin addressing long-term fiscal imbalances.” (New York Times)

Government management of the economy goes on.

FEE Timely Classic
“Toward an Austrian Critique of Governmental Economic Policy” by Israel M. Kirzner