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Politics : American Presidential Politics and foreign affairs

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To: DuckTapeSunroof who wrote (45972)	9/21/2010 7:23:12 PM
From: TimF	Read Replies (1) of 71588

Meanwhile, it circumvented Senate rules intended to prevent irresponsible fiscal actions — rules that would have forced it to find spending cuts to offset its $1.3 trillion tax cut — by putting an expiration date of Dec. 31, 2010, on the whole bill. Rules that had a built in tilt towards bigger government. Tax cuts have to be "paid for", but the biggest category of government spending (entitlements) can increase without any offsets, and no offsets are needed for extra spending on interest either (not that interest should be held hostage to such offsets, but it is extra spending and if your primary concern is not expanding the deficit than you need to offset increases here as well). That’s an extraordinary step. Almost everyone agrees that raising taxes on the middle class in the middle of an economic slump is a bad idea, The extraordinary step is raising taxes at all in a recession. And then using the political tactic of allowing tax hikes to go through for everyone, if tax hikes on the most productive and highly taxed are not allowed to go through.

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