George Will takes a baseball bat to Obama’s “balanced” approach to debt reduction
Even Jonathan Swift, who said promises and pie crusts are made to be broken, might have marveled at the limited shelf life of Barack Obama’s promise of a “balanced” deficit-reduction plan — substantial spending cuts to accompany revenue increases.
Obama made short shrift of that promise when he demanded $1.6 trillion in immediate tax increases and mostly unspecified domestic cuts.
He also promised to cut $800 billion from 10 years of war spending that will end in two years, which is like “cutting” $800 billion by deciding not to build a ski resort on Mars.
Year after year, the Democratic-controlled Senate, ignoring the law, refuses to pass budgets.
Year after year, Washington makes big government cheap by charging Americans only $6 for every $10 of government services, borrowing the difference. And the biggest purchaser of U.S. government debt is not China but … the U.S. government, largely through the Federal Reserve.
Yet what supposedly is horrifying is a sequester that would cut less than 3% of federal spending over the next decade? Or horrible Grover Norquist
Go read it all. The fact is this, it is the gross and irresponsible spending orgy that has gotten us into such debt, and raising taxes will do nothing to fix the problem. Only DECREASING the spending will do that! If Congress or the president were serious about cutting the deficit, they would end the Departments of Labor, Education, and Energy, they would reign in the EPA, and they would simplify the tax code by doing away with most deductions and reducing and flattening the tax rates. And yes, they would end the insanity of the progressive tax code. Of course, the fewer deductions, the less cheating on taxes, and that would help increase revenues WITHOUT punishing honest taxpayers. And, the less cheating would also make it possible to spend less on the IRS. And yes, they would repeal ObamCare IMMEDIATELY! They would also end many of the useless regulations that restrict businesses, leading to economic growth, more jobs, and more taxpayers. I am sorry but this is not as complicated as the politicians tell us. I am not saying the solutions are all easy, but using a bit of common sense, we could really make a dent in the deficit, and we could get around to reforming entitlements, which are the biggest problem of all.