"Historic" Legislation Is As Lasting As The Next Election
There have been many instances of historic legislation in our Nation's history. But unless the legislation led to constitutional amendments, the historic nature of such legislation could only be guaranteed by the results of subsequent elections. This is especially true when you are considering legislation regarding spending, taxes and "deficit reduction." Today, Jed Lewison reported President Obama "says he wants deficit reduction to focus on long-term spending, not short-term spending:"
The President previously discussed consummating a "historic" Grand Bargain on long term spending. I've repeatedly viewed this thinking as deluded. The reason why is:
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