Monday, July 30, 2012

Conservatives Control the Budget Deficit Debate And Some Of Them Are Democrats

The Simpson Bowles plan for dealing with budget deficits is being used as the starting point for debates about the budget.  It is being supported by serious people who have want to cut social welfare programs.  They are using our current revenue shortfalls, which produce large deficits as the rationale.  The debate has been one-sided because Democrats have not offered an alternative approach to deficit reduction.  The GOP has controlled the debate by default.  One of the problems is the social security surplus has been used to fund current operations.  When the surplus is exhausted, taxes will have to be increased or spending will have to be cut.  Conservatives would rather cut spending than raise taxes on the super-rich.

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