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Fixing the Fiscal Cliff Will Hasten Entitlement Crisis

Carlos7 Wrote: Nov 21, 2012 9:05 PM
"Limited Good" What most Obama voters believe is this: There is a finite amount of dollars. If one person has a lot of dollars, he must have taken them from someone else's pile. Like this: 1. Dollars = Good 2. The number of Dollars in circulation = a particular number (static amount) 3. More Dollars for Romney = Less Dollars for someone else Does everyone understand that mentality (it's hard to comprehend for smart people)?
The coming fiscal cliff's mix of tax hikes and spending cuts are projected to seriously hamper economic growth over the next two years, and Congressional leaders would be wise to negotiate fixes for the problems. One of the more popular potential fixes, however, is only going to hasten the coming entitlement crisis by worsening the finances of Social Security.

A one-year extension of the employee-side payroll tax cut was passed in December of 2011. It's scheduled to lapse along with the other fiscal cliff policies in 2012. This is a particularly popular tax cut because it goes by and large...