Finance Geek

President Obama and his supporters are portraying the failure of the Super Committee to slash the budget deficit by $1.2 trillion over ten years as endangering the already weak economic recovery. This is absolute sophistry.
A deal acceptable to Democrats would have raised taxes on the wealthy and corporations by $25 to $50 billion, annually, and cut spending, disproportionately on defense but some other programs too by $50 to $75 billion, for a total savings of about $100.
Apparently, according to liberals, raising taxes on folks they believe the government spoils-millionaires and…

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This entry was posted on Tuesday, November 22nd, 2011 at 11:19 am and is filed under RealClearMarkets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.