The Mythical "Long Term Deficit Deal With Teeth"
Although we should be spending more now to get the economy back on track, this is why a long-term deficit deal with teeth is something that both liberals and conservatives ought to be willing to compromise to achieve.
A "long term deficit deal with teeth" can not exist. The reason is one Congress can not bind future Congresses.
Case in point - the US government ran fiscal surpluses of $236.2 billion from 1998 to 2000. Indeed, the CBO projected trillion dollar surpluses beyond that. Guess what happened next? The massive Bush Tax Cuts plus two trillion dollar wars. Goodbye surpluses.
Stupid statement from Drum.
Speaking for me only
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