The more people who receive benefits, the harder it’s going to be to make cuts, and it’s never popular to raise taxes. In some respects that argues for letting a combination of tax increases and spending cuts that is set to automatically hit in 2013 take effect. There’s just one problem: the Congressional Budget Office says it would sink the economy into recession.
Letting the 2013 provisions come into force would be like dealing with a weight problem by cutting off your right arm. It may not be popular, but a long-term, well-planned diet is the only solution.
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on Saturday, May 26th, 2012 at 2:11 pm and is filed under Economy, Headlines, taxation.
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