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Here’s What’s Wrong with the Simpson-Bowles Deficit-Reduction Plan

john653 Wrote: Sep 24, 2012 2:42 PM
Didnt mean to eliminate all debt next year, but a portion of it and telling us how, why, and what it does in a year, not ten years. If you have a debt problem, say a CC, u may only expect to pay down 25% next year, so you pay it down and pay the interest so it doesnt grow back. Then you plan on the next year, one step at a time. Of course one other reduction next year could be the Dept of Education, then the year after that the Dept of Energy, then on and on..... One big one could be, eliminate all aid to foreign countries at least until we get our books balanced.

Many people want to believe in Unicorns, the Loch Ness Monster, and Bigfoot. I think those people are rational and reasonable compared to the folks in Washington that spend their days dreaming of “bipartisan” and “balanced” plans to fix the budget mess.

Here are the two things you should understand. First, you need to grab your Washingtonese-to-English dictionary so you can learn that “bipartisan” and “balanced” are almost always code words for “higher taxes.” Second, budget deals with higher taxes (as the New York Times accidentally admitted) don’t “fix” anything.

The Simpson-Bowles budget plan is a good example of...