“President Obama entered the debate about the national debt on Wednesday after months on the sidelines, offering a plan to trim borrowing by $4 trillion over the next 12 years by combining deep cuts in military and domestic spending with higher taxes on the wealthy…. Obama announced his framework for deficit reduction in a speech that at times employed the highly partisan words he used on the campaign trail. But it included only a few notable, and largely incremental, policy proposals.” (Washington Post)
Short on details, but the plan would raise taxes.
FEE Timely Classic
“Government as Consumer” by Sheldon Richman