In our new era of concern for unsustainable national debt, our first objective must be to massively expand our annual budget deficits by re-enacting the Bush tax cuts, most of which were passed when we were still running a budget surplus.
Who could argue with that?
Late Update: As a related but distinct matter, I’m troubled and a bit surprised that the opponents of this folly are acquiescing in the idea that this is a ‘tax hike’. It’s not. The Bush tax cuts were for 10 years. Do nothing and they go back to what they were in 2001. At some level it’s all semantic: do nothing and taxes will be higher in 2012 than they would if you repassed the law. But semantics count. Or didn’t we get that already?
