The White House

[OP-ED]: Deficits forever?

 07/20/2017 - 12:15
The federal budget remains badly out of whack, even though we are near or at “full employment” (June unemployment rate: 4.4 percent). We cannot afford tax cuts; we need tax increases.

House Republicans, who are now deliberating the government’s 2018 budget, pledge to eliminate deficits within a decade. Well, good luck with that. It must be obvious that chronic deficits reflect a basic political impasse that can be broken only if majorities in Congress do things they’ve refused to do: trim Social Security benefits; raise taxes significantly; control health spending. There is a giant mismatch between what Americans want from government and what they’ll pay for with taxes.

Thursday, July 20, 2017 - 11:57am

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