Taxing Health Insurance and Mortgages, Cutting SS/Medicare And Other Plans For Political Hara-Kiri
The latest Senate Gang wants to cut Social Security and Medicare, and eliminate the mortgage interest deduction. Matt Yglesias is keen to increase the tax on health insurance.
Tim Geithner is thrilled about this kind of talk:
Mr. Geithner said “[. . . I]f you listen carefully now, you see the leadership of the United States of America, the president, the Republican leadership in both houses and the Democrats recognizing now that [. . .] we have to put in place now reforms that bring down our long-term deficits in ways that’ll help strengthen future growth. And that’s incredibly important recognition by people and we’d like to put something in place as soon as we can so we can begin that process.”
Funny, Mr. Geithner was not that concerned about deficits when he was touting tax cuts for the rich when The Deal was passed in December. The gamble by the Obama Administration, spearheaded by Mr. Geithner, is that the economy will be in good shape in 2012, so promises of long term reductions won't affect the President's reelection chances. That seems delusional to me. Time will tell.
Speaking for me only
< Duke Lacrosse Accuser Indicted for Murder | "What I'd really like to know is who S&P likes in the Hornets-Lakers series?" > |