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$10 In Spending Cuts For $1 In Tax Increases? No Thanks. – Louis Woodhill


Imagine Peanuts’ Lucy Van Pelt’s shock, dismay and disbelief if Charlie Brown were to refuse to try to kick the football, denying her yet another opportunity to pull it away at the last second and watch him fall on his butt. Well, that’s pretty much how The New York Times reacted after the House Republicans refused to agree to “revenues” in return for raising the debt ceiling: shock, dismay and disbelief. Sorry, Gray Lady. The Republicans are indeed the Stupid Party, but they seem to have finally wised up.

On Aug. 12, the Times editorial page accused the Republican presidential candidates of “ruinous magical thinking” when they all said that they would veto a deficit reduction deal that promised $10 of spending cuts in return for $1 in tax increases. That same day, Charles Blow, writing in the Times, said, “no person who would take such a stance is fit to be president of the United States.” On Aug. 15, the Times published an essay by Steven Rattner that labeled the Republican candidates’ economic views “extremist.”

Read More at Forbes.

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