June 27, 2011

A "balanced approach" to the deficit problem

Senator Jon Kyl went on Fox News Sunday yesterday to explain why he withdrew from deficit reduction negotiations over the President's conditional requirement that government revenues be raised as part of a "balanced" solution. "But isn't one dollar of new taxes for every three dollars of spending cuts a fair deal" asked Chris Wallace?

But you don't want to pile taxes on at a time when companies don't have the ability to invest and hire people. That's the primary reason we are opposed to raising taxes right now.

Treasury Secretary Geithner explains the real reason for insisting on tax hikes.

"If you don't touch revenues," Geithner said, "you have to shrink the overall size of government programs, things like education, to levels that we could not accept as a country."

What do you mean "we" Kemosabe? Investor's Business Daily opines:

Some factions just won't accept shrinking the size of government. Most in them run in the same tight circles as Geithner. Never hearing anything other than support for increasing the size of government, they assume that's what Americans want.

But quite a few Americans have been wanting to cut government for decades, and that number is growing as the almost intractable problems created by overspending have become more obvious.

From Social Security and Medicare to housing assistance and farm subsidies to, yes, even education, federal programs need to shrink or be eliminated. There's not a single item in the budget, including defense, that can't use some judicious trimming.

No Tim, America's economy has shrunk. Americans' net worth has shrunk. It's well past time for America's government to shrink.

Don't Demand the Unearned Education Government Obama Administration Tea Party VP Biden We're from the government, and here to help. Posted by JohnGalt at June 27, 2011 2:28 PM
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