Tuesday, November 13, 2012
Robert Reich Tells Obama To Aim High On Fiscal Cliff Negotiations
The fiscal cliff includes spending and tax issues that need to be negotiated. Robert Reich provides his list of tax increases that would minimize the need for spending cuts on entitlements. While his list of tax increases is interesting, it would not be a good start to negotiations. Obama's "grand bargain" that he attempted to strike with the House Majority leader, was criticized for being heavy on spending cuts and short on tax increases. Hopefully, he will not make that mistake again. On the other hand, we do need to figure out ways to reduce spending on healthcare. It largely a matter of reducing provider price inflation.