In response to:

The Fiscal Cliff – Don't Jump!

Charles SWVA Wrote: Nov 24, 2012 4:43 PM
pats, you must distinguish between debt and deficit. We can deal with the deficit, that is the yearly excess of expenditures over revenue. We cannot - and will not deal - with the debt problem. It is TOO BIG and no one, especially our children and grandchildren want to pay for past excesses. It will be monetized or refuted or some combination of both.
As the nation nears the so-called fiscal cliff, Republicans in Congress must be wary of the solutions being put forward for a "grand bargain" by President Obama and Democrats in Congress. Unsurprisingly, the President and the Congressional Democrats are using tempting but dishonest rhetoric – calling for "fairness," a "balanced approach," and a "return to Clinton Era tax rates" to balance the budget.

This rhetoric is misleading for several reasons. First, Democrats are not really proposing going back to the Clinton Era tax rates. If income, capital gains and other tax rates were raised to Clinton Era levels, these higher rates would...
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