Another edition of fiscal irresponsibility watch.
If you remember back to last year, the much-heralded and derided Bush tax cut was squeezed into various long-term budget projections by giving it a ten-year time horizon. If they were permanent their full deleterious effects on the nation’s long-term finances, along with their strangling off of the revenue for any sort of Social Security reform, would have been even more abundantly clear.
Not that it wasn’t clear, mind you. But the ten year time horizon gimmick facilitated the efforts of those inclined toward deception and lies.
Now the president says he wants the cuts all to be permanent.
How much bait-and-switch should he get away with?
And will the Dems be shrewd enough to see this as an opportunity?
